J. M. Smucker Co. Down 1.7% On Revenue Miss (SJM)

Shares of J. M. Smucker Company SJM are currently down 1.7% at $61.96 per share during Thursday afternoon trading. Today's trading range for shares of J. M. Smucker Company has been between $60.46 and $63.73 per share. The consensus price target of analysts covering the company's stock is $69.00 per share. Volume of 2.2 million shares is already more than triple the daily average volume of 650,000 shares. J. M. Smucker Company (SJM) released financial results early Thursday morning that beat Wall Street earnings estimates but missed revenue expectations. J. M. Smucker Company reported 2nd quarter adjusted earnings of $1.38 per share, on revenue of $1.28 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.32 per share, on revenue of $1.32 billion. Executive chairman and co-chief executive officer Richard Smucker said, "Our long-term perspective in managing our business is backed by a strong financial position that provides the ability and flexibility to capitalize on opportunities that support our strategy. As we look ahead, we anticipate that marketplace dynamics, including escalating commodity costs, will continue to present challenges. However, we are confident in the ability of our team to execute our strategy and address these obstacles." Read more from Benzinga's Company news.