Analysts predict JM Smucker (NYSE: SJM) to report quarterly sales of $ 2.05 billion
Analysts predict The JM Smucker Company (NYSE: SJM) will report $ 2.05 billion in sales for the current quarter, Zacks reports. Five analysts have estimated JM Smucker’s earnings. The lowest sales estimate is $ 2.02 billion and the highest is $ 2.08 billion. JM Smucker reported sales of $ 2.08 billion in the same quarter last year, indicating a negative growth rate of 1.4% year-over-year. The company is expected to report its next quarterly results on Thursday, February 24.
On average, analysts expect JM Smucker to report annual revenue of $ 8.00 billion for the current fiscal year, with estimates ranging from $ 7.94 billion to $ 8.04 billion. of dollars. For next year, analysts predict the company will post sales of $ 8.17 billion, with estimates ranging from $ 7.95 billion to $ 8.33 billion. Zacks’ sales calculations are an average based on a survey of seller-side research analysts who provide coverage for JM Smucker.
JM Smucker (NYSE: SJM) last reported its results on Tuesday, November 23. The company reported earnings per share of $ 2.43 for the quarter, beating Thomson Reuters consensus estimate of $ 2.04 by $ 0.39. JM Smucker had a net margin of 9.72% and a return on equity of 11.60%. The company posted revenue of $ 2.05 billion in the quarter, compared to analysts’ estimates of $ 1.96 billion. In the same quarter of last year, the company posted earnings of $ 2.39 per share. JM Smucker’s revenue increased 0.8% from the same quarter last year.
SJM has been the subject of a number of research reports. Citigroup raised its price target for JM Smucker shares from $ 132.00 to $ 138.00 and gave the stock a “neutral” rating in a research report published on Wednesday, November 24. Morgan Stanley raised its price target on JM Smucker from $ 117.00 to $ 125 and rated the stock “underweight” in a research note on Wednesday, November 24. Zacks Investment Research downgraded JM Smucker from a “hold” rating to a “buy” rating and set a price target of $ 137.00 for the company in a research note on Tuesday, November 30. Barclays raised its price target for JM Smucker shares from $ 130.00 to $ 140.00 and gave the company an “equal weight” rating in a Wednesday, November 24th research note. Finally, Credit Suisse Group increased its price target on JM Smucker shares from $ 125.00 to $ 130.00 and gave the company a “neutral” rating in a research note on Wednesday, November 24. One research analyst rated the stock with a sell rating, seven assigned a conservation rating, and two issued a buy rating for the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $ 134.45.
SJM stock opened at $ 135.82 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.48, and a debt ratio of 0.52. JM Smucker has a twelve month low of $ 110.53 and a twelve month high of $ 140.65. The company’s 50-day moving average is $ 129.62 and its two-hundred-day moving average is $ 127.63. The stock has a market cap of $ 14.72 billion, a P / E ratio of 19.43, a PEG ratio of 13.00 and a beta of 0.32.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 1. Shareholders of record on Friday, November 12 received a dividend of $ 0.99 per share. This represents a dividend of $ 3.96 on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 10. JM Smucker’s dividend payout ratio is 56.65%.
JM Smucker announced that its board of directors launched a share buyback plan on Friday, October 22, which allows the company to buy back 5,000,000 outstanding shares. This buyback authorization allows the company to buy back shares in its capital through purchases on the market. Share buyback plans are often a sign that company management believes its stock is undervalued.
In other JM Smucker news, CFO Tucker H. Marshall sold 10,000 JM Smucker shares in a trade on Friday, December 17th. The stock was sold for an average price of $ 138.97, for a total value of $ 1,389,700.00. The sale was disclosed in a file with the Securities & Exchange Commission, which is available at this link. Additionally, insider Geoff E. Tanner sold 10,039 JM Smucker shares in a trade on Friday, December 17. The shares were sold for an average price of $ 138.23, for a total value of $ 1,387,690.97. Disclosure of this sale can be found here. Company insiders own 3.70% of the company’s shares.
Institutional investors recently changed their holdings in the company. Financial Insights Inc. purchased a new stake in JM Smucker during the second quarter valued at approximately $ 26,000. TCTC Holdings LLC increased its position in JM Smucker by 909.1% during the third quarter. TCTC Holdings LLC now owns 222 shares of the company valued at $ 27,000 after purchasing an additional 200 shares in the last quarter. Koshinski Asset Management Inc. acquired a new equity interest in JM Smucker in the 3rd quarter valued at $ 28,000. Itau Unibanco Holding SA acquired a new stake in the shares of JM Smucker in the 2nd quarter for a value of $ 33,000. Finally, HM Payson & Co. increased its stake in JM Smucker shares by 27.1% in the 3rd quarter. HM Payson & Co. now owns 366 shares of the company valued at $ 44,000 after purchasing 78 additional shares in the last quarter. Institutional investors hold 86.03% of the shares of the company.
About JM Smucker
JM Smucker Co is engaged in the manufacture and marketing of food and beverage products. It operates in the following segments: US Retail Coffee, US Retail Consumer Foods, US Retail Pet Foods and International and Away From Home. The US retail coffee segment includes domestic sales of Folgers branded coffee, Dunkin ‘Donuts and Café Bustelo.
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