JM Smucker Company (NYSE:SJM) Expected to Report Quarterly Sales of $1.98 Billion


Equity research analysts expect The JM Smucker Company (NYSE:SJM – Get Rating) to report sales of $1.98 billion for the current quarter, Zacks reports. Six analysts have released JM Smucker earnings estimates, with the lowest sales estimate at $1.96 billion and the highest estimate at $2.00 billion. JM Smucker reported sales of $1.92 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 3.1%. The company is expected to announce its next earnings report on Monday, January 1.

On average, analysts expect JM Smucker to post annual sales of $7.94 billion in the current fiscal year, with estimates ranging from $7.93 billion to $7.96 billion. For next year, analysts expect the company to post sales of $8.02 billion, with estimates ranging from $7.86 billion to $8.16 billion. Zacks sales averages are an average based on a survey of sell-side analysts who provide coverage for JM Smucker.

JM Smucker (NYSE:SJM – Get Rating) last released quarterly earnings on Tuesday, March 1. The company reported earnings per share of $2.33 for the quarter, beating the consensus estimate of $2.08 by $0.25. The company posted revenue of $2.06 billion in the quarter, versus $2.04 billion expected by analysts. JM Smucker had a return on equity of 11.30% and a net margin of 7.31%. The company’s revenue for the quarter was down 0.9% from the same quarter last year. In the same quarter last year, the company posted EPS of $2.45.

SJM has been the subject of a number of research analyst reports. StockNews.com launched coverage on JM Smucker in a research note on Thursday, March 31. They set a “holding” rating for the company. William Blair reissued a “market performance” rating on JM Smucker shares in a research report on Tuesday, March 1. Credit Suisse Group lowered its price target on JM Smucker from $140.00 to $130.00 and set a “neutral” rating on the stock in a Wednesday, March 2 research note. Citigroup lowered its target price on JM Smucker from $138.00 to $131.00 and set a “neutral” rating on the stock in a Wednesday, March 2 research note. Finally, Goldman Sachs Group raised its price target on JM Smucker from $107.00 to $111.00 in a Thursday, February 17 research note. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned the company’s stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $132.77.

A number of institutional investors and hedge funds have recently changed their positions in the company. Cantor Fitzgerald Investment Advisor LP increased its position in JM Smucker shares by 93.5% during the 1st quarter. Cantor Fitzgerald Investment Advisor LP now owns 96,861 shares of the company worth $13,116,000 after purchasing an additional 46,792 shares in the last quarter. CAPROCK Group Inc. increased its stake in JM Smucker shares by 36.7% during the 1st quarter. CAPROCK Group Inc. now owns 2,167 shares of the company valued at $293,000 after purchasing an additional 582 shares during the period. Carnegie Capital Asset Management LLC increased its stake in JM Smucker shares by 20.3% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 2,404 shares of the company valued at $326,000 after purchasing an additional 406 shares during the period. Veriti Management LLC increased its stake in JM Smucker shares by 28.8% during the 1st quarter. Veriti Management LLC now owns 5,835 shares of the company valued at $790,000 after purchasing an additional 1,305 shares during the period. Finally, Strategy Asset Managers LLC acquired a new stake in JM Smucker during the 1st quarter at a value of $336,000. 83.19% of the shares are currently held by institutional investors.

Shares of JM Smucker opened at $139.08 on Thursday. The stock has a market capitalization of $15.08 billion, a price-earnings ratio of 26.19 and a beta of 0.30. The company has a debt ratio of 0.52, a quick ratio of 0.57 and a current ratio of 1.19. The stock has a 50-day moving average price of $134.26 and a 200-day moving average price of $132.04. JM Smucker has a 1-year low of $118.55 and a 1-year high of $145.82.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 1. Investors of record on Friday, February 11 received a dividend of $0.99 per share. This represents a dividend of $3.96 on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Thursday, February 10. JM Smucker’s dividend payout ratio is currently 74.58%.

About JM Smucker (Get a rating)

The JM Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods and International and Out-of-Home. The company offers roast, ground, single serve and premium coffee; peanut butter and specialty spreads; fruit spreads, shortenings and oils and frozen sandwiches; pet food and snacks; and hot beverages for foodservice, portion control for foodservice and flour products, as well as dog and cat food, frozen hand products, juices and beverages and baking ingredients .

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Earnings history and estimates for JM Smucker (NYSE:SJM)



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