|Day's Range||22.20 - 22.20|
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of McCormick & Company, Incorporated and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
During Friday's Mad Money program Jim Cramer talked about investing and that, sometimes you have to take the good with the bad. Cramer went on to say that the only winner among the "good-and-bad" stocks was spice maker McCormick & Co. , which announced that it's losing business as restaurants close, but gaining it back in spades as consumers do a lot more cooking at home and require more spices and hot sauce. In the daily bar chart of MKC, below, we can see that prices made their nadir around the middle of March along with the movement in the broader market.
One public company based in Greater Baltimore raised its stock price during a tumultuous first quarter for the financial markets. Baltimore-based Legg Mason Inc. saw its stock price increase 35% to $48.
U.S. stocks are looking for direction, but earnings reports next week aren't likely to be much help. At a time when any bit of information would be useful, the earnings calendar is exceptionally light.To be sure, it's not as if earnings reports provide all that much in the way of information in this unprecedented time. Even companies that have seen relatively mild disruption from the novel coronavirus are taking a cautious stance. Spices and seasonings manufacturer McCormick (NYSE:MKC,NYSE:MKC-V) and pharmacy operator Walgreens Boots Alliance (NASDAQ:WBA) both pulled their full-year guidance after earnings this week.Still, investors will take what they can get right now -- and earnings reports still matter. Shares of both McCormick and Walgreens did move after earnings, with MKC rallying and WBA fading. And with earnings season ramping up in just two weeks, the few reports on the earnings calendar next week do at least give investors a small glimpse of what's to come later this month.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Telecom Stocks That Are Worth a Close Look That said, let's take a closer look at three earnings reports to watch this upcoming week. Earnings Reports to Watch Next Week: Levi Strauss (LEVI)Source: Davdeka / Shutterstock.com Earnings Report Date: Tuesday, April 7, after market closeInvestors probably can't expect much from fiscal first quarter earnings from Levi Strauss (NYSE:LEVI). The quarter ended Feb. 23, so the reported numbers won't include much in the way of impact from coronavirus. Levi Strauss closed its stores on March 16, which will hit second quarter results. And as a result, the company most likely will withdraw its own full-year guidance.That said, there could be some interesting nuggets in the release and on the earnings call. Levi Strauss acts both as a supplier, and a retailer. Commentary on e-commerce sales through the company's own digital store and through platforms like Amazon (NASDAQ:AMZN) could show the extent to which Americans still are shopping while largely stuck at home.Levi Strauss is making a big push into China, as well. In fact, the company's largest store in that country opened in the fall -- in Wuhan, where the coronavirus first was identified. Investors will get another perspective on the recovery in that key economy.More broadly, we simply haven't had much commentary from apparel retailers about consumer behavior amid this nationwide shutdown. From that standpoint, Levi Strauss earnings on Tuesday afternoon are worth paying attention to. What LEVI management has to say might echo that of many other apparel companies that follow. MSC Industrial Direct (MSM)Source: Casimiro PT / Shutterstock.com Earnings Report Date: Wednesday, April 8, before market openIndustrial distributor MSC Industrial Direct (NYSE:MSM) is a name with which investors likely aren't familiar. But its earnings next week might be the most important report on the calendar.There aren't many organizations with a better handle on U.S. construction than MSC. The company is much smaller than rivals W.W. Grainger (NYSE:GWW) and Fastenal (NASDAQ:FAST), but it's still generated over $3 billion in revenue over the past twelve months. In fiscal 2019, the company had roughly 3,000 suppliers, and many thousands of customers.And so commentary from management on Wednesday morning's earnings call should be intriguing. Construction activity, at least so far, has held up to some degree. But it's not clear for how long that will last. MSM management might give a clue. * 7 Tech Stocks to Buy For an Interconnected World For investors with positions in stocks like GWW and FAST -- plus Home Depot (NYSE:HD) -- building suppliers, and many others, this is a key report to watch ahead of releases from larger companies once earnings season arrives in full. RPM International (RPM)Source: Casimiro PT / Shutterstock.com Earnings Report Date: Wednesday, April 8, before market openRPM International (NYSE:RPM), too, could serve as a preview of results from larger peers. The specialty chemical manufacturer serves a wide range of end markets, making it an interesting barometer for chemical demand and even broader industrial activity.The reaction to earnings itself is worth watching as well. RPM stock has held up relatively well during this selloff, declining more than 25% year-to-date. Larger chemical plays have not done the same.DuPont de Nemours (NYSE:DD) and Dow (NYSE:DOW) both have lost nearly half of their value. LyondellBasell Industries (NYSE:LYB) has done slightly worse.RPM earnings could show whether demand is not quite as bad as investors fear -- which would in turn suggest relief rallies for the likes of DuPont and Dow when those companies report later this month. Meanwhile, a bounce in RPM stock, no matter what earnings look like, could imply that investors are willing to gamble on a sector that, overall, has been one of the worst performers so far this year.Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. As of this writing, he has no positions in any securities mentioned. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post 3 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
The Board of Directors of McCormick & Company, Incorporated (NYSE: MKC) today declared a quarterly dividend of $0.62 per share on its common stocks, payable April 27, 2020 to shareholders of record April 13, 2020. McCormick's current annualized dividend rate of $2.48 per share represents an increase of 9% over the annual dividend of $2.28 per share paid in fiscal year 2019.
McCormick says people are buying their vanilla, bone broth and turmeric. What must-haves did you pick up at the store ahead of lockdown?
McCormick's (MKC) fiscal first-quarter 2020 results reflect soft earnings. Also, the COVID-19 outbreak in China reduced the company's sales growth in the quarter.
Shares of McCormick & Co (NYSE:MKC) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share fell 3.57% over the past year to $1.08, which beat the estimate of $1.04.Revenue of $1,212,000,000 lower by 1.62% from the same period last year, which missed the estimate of $1,230,000,000.Guidance For the fiscal year 2020, McCormick withdrew its guidance .Conference Call Details Date: Mar 31, 2020Time: 10:03 PM ETView more earnings on MKCWebcast URL: https://edge.media-server.com/mmc/p/maxrdxksRecent Stock Performance 52-week high: $174.5852-week low: $112.22Price action over last quarter: down 14.58%Company Description In its nearly 130-year history, McCormick has become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. McCormick's customer base includes top quick-service restaurants, retail grocery chains, and other packaged food manufacturers, with about 40% of sales generated beyond its home turf to include 150 other countries and territories. Beyond its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, and the recently acquired Frank's RedHot and French's brand.See more from Benzinga * Conagra Brands: Q3 Earnings Insights * Capital Senior Living: Q4 Earnings Insights * Recap: iClick Interactive Asia Q4 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
McCormick's sales declined 1.6% to $1.21 billion, including a 3% negative impact in China, due to COVID-19.
McCormick (MKC) delivered earnings and revenue surprises of 4.85% and -1.37%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?
McCormick & Co. Inc. reported Tuesday a fiscal first-quarter profit that beat expectations while sales fell short, citing COVID-19-related weakness in China. The stock was still inactive in premarket trading. The flavor and spices company said net income for the quarter to Feb. 29 fell to $144.7 million, or $1.08 a share, from $148.0 million, or $1.11 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.08, above the FactSet consensus of $1.03. Sales fell 2% to $1.21 billion, below the FactSet consensus of $1.23 billion, as consumer sales declined 6% to $699.5 million to miss expectations of $753.7 million while flavor sales rose 5% to $512.5 million to beat expectations of $487.8 million. The impact of the COVID-19-related weakness in China was to reduce sales growth by 3%. The company withdrew its 2020 financial guidance, saying it can't predict the duration and extend of the impact of the COVID-19 health crisis. The company is expecting increased demand in flavor sales from packaged food customers but also a decline in demand from restaurant and foodservice customers. The stock has lost 15.7% over the past three months, while the S&P 500 has shed 18.7%.
McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today reported financial results for the first quarter ended February 29, 2020.
McCormick & Co (NYSE: MKC) announces its next round of earnings this Tuesday, March 31. Here's Benzinga's look at McCormick's Q1 earnings report.Earnings and Revenue Sell-side analysts expect McCormick & Co's EPS to be near $1.04 on sales of $1.23 billion.In the same quarter last year, McCormick & Co reported earnings per share of $1.12 on sales of $1.23 billion. The Wall Street estimate would represent a 7.14% decline in the company's earnings. McCormick & Co's reported EPS has stacked up against analyst estimates in the past like this:View more earnings on MKC Quarter Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 EPS Estimate 1.610 1.290 1.080 1.03 1.7 EPS Actual 1.610 1.460 1.160 1.12 1.67 Stock Performance Over the last 52-week period, shares are down 10.24%. Given that these returns are generally negative, long-term shareholders won't be happy going into this earnings release.Analysts have adjusted their estimates lower for EPS and revenues over the past 90 days. Analysts have been rating McCormick & Co stock as Neutral. The strength of this rating has maintained conviction over the past three months.Conference Call McCormick & Co is scheduled to hold a conference call at 8:00 a.m. ET and it can be accessed here: https://edge.media-server.com/mmc/p/maxrdxksSee more from Benzinga * Q3 Earnings Preview For Conagra Brands * Q1 Earnings Preview For KB Home * Preview: Lululemon Athletica's Q4 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, announced plans to further recognize and support employees who are physically working in locations critical to keeping their operations running globally. The company will increase hourly wages, further extend paid leave to care for sick family members and maintain salaries if operations are suspended.
Constellation Brands' (STZ) fourth-quarter fiscal 2020 results are likely to reflect gains from the robust corona beer business, innovation pipeline and strong depletion growth.
McCormick's (MKC) first-quarter fiscal 2020 results are likely to reflect gains from innovation and savings from the CCI program. However, volatile currency movements are concerning.
McCormick (MKC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). To keep it...
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
At the meeting, shareholders will be looking for an update from McCormick CEO Lawrence Kurzius, as the company has a factory in Wuhan, China.
Stocks rebounded on March 13 following their worst day since Black Monday in 1987. Here's how local companies finished the week.