Why McCormick Stock Jumped Today
Shares of flavorings and spices leader (NYSE: MKC) were up 4% as of 12:45 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.
McCormick delighted the market after reporting its second-quarter earnings, delivering $0.69 in earnings per share (EPS) compared to analysts' expectations of $0.59. The company's sales slipped by 1%, but its revenue was better than expected, with its flavor solutions segment selling to a food service industry that has seen tightened consumer spending so far in 2024.
The company is starting to see some signs of improvement across its margin profile following a brutal two-year stretch of high inflation.
Source Fool.com
Mccormick & Comp. Stock
€74.50
-1.430%
Based on 4 Buy predictions and 3 Sell predictions the sentiment towards Mccormick & Comp. is rather balanced.
On the other hand, the target price of 68 € is below the current price of 74.5 € for Mccormick & Comp., so the potential is actually -8.72%.
