The J.M. Smucker Company SJM FY1Q11 EPS of $1.04, above the $0.99 estimate from Goldman Sachs and the consensus $0.96. Margin performance was the driver for higher operating profit and lower tax rates, according to Goldman.
Goldman reports that management has raised its sales guidance from +3% to a "slightly ahead of +3%" average, based on recent coffee prices and mainstay EPS estimates for FY2011 of $4.50-$4.60.
Goldman has lowered the price target to $69 (from $70) and remains Neutral.
The J.M. Smucker Company closed yesterday at $59.65.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Posted In: Analyst ColorEarningsNewsGuidancePrice TargetManagementMarketsAnalyst RatingsConsumer StaplesGoldman SachsJM Smucker CompanyPackaged Foods & Meats
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in