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MKC

McCormick

$150.58

-2.545 (-1.66%)

06:35
06/27/19
06/27
06:35
06/27/19
06:35

McCormick reports Q2 EPS $1.12, consensus $1.08

Reports Q2 revenue $1.3B, consensus $1.31B. Lawrence Kurzius, chairman, president and CEO, said, "In our second quarter we delivered solid financial results in line with our expectations. Our fundamentals are strong and as we enter the second and most significant half of our year, we are confident the initiatives we have underway in 2019 position us to continue on our growth trajectory.Our consumer and flavor solutions segments contributed to our constant currency sales growth of 3%. Both segments grew constant currency sales in each of our three regions driven by higher volume and product mix on base business, new products and pricing. Our consumer segment base business volume growth was driven by our category management initiatives and expanded distribution, as well as effective marketing support and merchandising execution. Growth in the consumer segment was led by our Asia Pacific and Americas regions. In our flavor solutions segment, with our customer intimacy focus and broad range of solutions, we are continuing to win with our customers and drive sales growth through our new products, expanded distribution and their promotional activities. While all of our regions contributed to our flavor solutions sales growth, our EMEA region's growth was particularly strong."

  • 27

    Jun

MKC McCormick
$150.58

-2.545 (-1.66%)

01/25/19
01/25/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Flir Systems (FLIR) upgraded to Outperform from Neutral at Baird with analyst Peter Arment saying defense contract wins that are providing good visibility and current valuation, which provides a good risk/reward. 2. McCormick (MKC) upgraded to Hold from Sell at Deutsche Bank and to Overweight from Equal Weight at Consumer Edge. 3. Rockwell Automation (ROK) upgraded to Buy from Reduce at HSBC with analyst Michael Hagmann saying he views the correction in shares as "overdone" and said Rockwell offers robust secular automation fundamentals, strong cash flow generation, and best-in-class ROIC, with potential for end market improvement in FY19. 4. Triumph Group (TGI) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing its Global 7500 program as it will reduce the company's risk, bolster 2020 free cash flow, and shift its mix to profitable sectors. 5. Carnival (CCL) upgraded to Outperform from Neutral at Macquarie with analyst Paul Golding citing valuation and favorable exposure to oil prices. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
05/13/19
NO CHANGE

Off Wall Street initiates short recommendation on McCormick
01/25/19
CEDG
01/25/19
UPGRADE
CEDG
Overweight
McCormick upgraded to Overweight from Equal Weight at Consumer Edge
01/25/19
FBCO
01/25/19
NO CHANGE
Target $130
FBCO
Neutral
McCormick price target cut to $130 from $150 at Credit Suisse
Credit Suisse analyst Robert Moskow backed a Neutral rating on McCormick and cut his price target to $130 after the company's quarterly results, with EPS and operating profit that missed estimates. In a research note to investors, Moskow lowered his FY19 estimate to $5.21 from $5.45 and established a FY20 estimate of $5.73, but says he believes that the risk/reward is less balanced than in the past.

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