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Why J.P. Morgan Lowered Earnings Estimates for J.M. Smucker

Adrian Stevens
Why J.P. Morgan Lowered Earnings Estimates for J.M. Smucker

Recently, J.P. Morgan lowered its EPS estimates for J.M. Smucker (SJM) due to trade war tensions. J.P. Morgan expects Canada’s retaliatory tariffs to hurt J.M. Smucker the most among all food companies. The investment bank now estimates SJM’s EPS to be $8.29 and $8.83 in fiscal 2019 and fiscal 2020, respectively, down from earlier estimates of $8.56 and $9.15.