McCormick Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

McCormick & Company, Incorporated MKC is expected to release earnings results for its first quarter, before the opening bell on March 26, 2024.

Analysts expect the Hunt Valley, Maryland-based company to report quarterly earnings at 58 cents per share, down from 59 cents per share in the year-ago period. McCormick is projected to report quarterly revenue of $1.56 billion, according to data from Benzinga Pro.

On Jan. 25, McCormick & Company reported fourth-quarter revenues of $1.753 billion, missing the analyst consensus of $1.79 billion.

McCormick shares gained 1.1% to close at $69.48 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• JP Morgan analyst Ken Goldman maintained an Underweight rating and cut the price target from $59 to $57 on Jan. 26, 2024. This analyst has an accuracy rate of 81%.
• Consumer Edge Research analyst Connor Rattigan downgraded the stock from Overweight to Equal-Weight on Jan. 22, 2024. This analyst has an accuracy rate of 69%.
• Barclays analyst Lauren Lieberman maintained an Equal-Weight rating and slashed the price target from $74 to $71 on Jan. 16, 2024. This analyst has an accuracy rate of 62%.
• Stifel analyst Matthew Smith maintained a Hold rating and decreased the price target from $82 to $70 on Oct. 4, 2023. This analyst has an accuracy rate of 66%.
• TD Cowen analyst Robert Moskow initiated coverage on the stock with a Market Perform rating and a price target of $87 on Sept. 13, 2023. This analyst has an accuracy rate of 68%.

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