The J. M. Smucker Company (NYSE:SJM) Expected to Announce Quarterly Sales of $1.97 Billion

Brokerages forecast that The J. M. Smucker Company (NYSE:SJM) will post sales of $1.97 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for The J. M. Smucker’s earnings, with the lowest sales estimate coming in at $1.95 billion and the highest estimate coming in at $1.98 billion. The J. M. Smucker reported sales of $2.03 billion in the same quarter last year, which would suggest a negative year over year growth rate of 3%. The business is expected to announce its next quarterly earnings report on Tuesday, November 23rd.

According to Zacks, analysts expect that The J. M. Smucker will report full year sales of $7.84 billion for the current financial year, with estimates ranging from $7.81 billion to $7.86 billion. For the next financial year, analysts anticipate that the business will post sales of $7.99 billion, with estimates ranging from $7.88 billion to $8.09 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for The J. M. Smucker.

The J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 25th. The company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The J. M. Smucker had a net margin of 10.06% and a return on equity of 11.64%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business earned $2.37 earnings per share. The J. M. Smucker’s quarterly revenue was down 5.8% compared to the same quarter last year.

SJM has been the subject of several analyst reports. Bank of America raised their target price on shares of The J. M. Smucker from $124.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, June 4th. Jefferies Financial Group initiated coverage on shares of The J. M. Smucker in a report on Thursday, August 26th. They set a “hold” rating and a $140.00 price objective for the company. Barclays reiterated a “hold” rating and set a $135.00 price objective on shares of The J. M. Smucker in a report on Sunday, June 6th. Morgan Stanley decreased their price objective on shares of The J. M. Smucker from $126.00 to $117.00 and set an “underweight” rating for the company in a report on Friday, August 27th. Finally, Zacks Investment Research downgraded shares of The J. M. Smucker from a “buy” rating to a “hold” rating and set a $137.00 target price on the stock. in a research report on Tuesday, July 27th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $129.33.

The J. M. Smucker stock opened at $119.11 on Friday. The firm has a 50-day moving average price of $126.82 and a 200-day moving average price of $129.59. The firm has a market capitalization of $12.91 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 12.03 and a beta of 0.32. The company has a current ratio of 0.71, a quick ratio of 0.31 and a debt-to-equity ratio of 0.43. The J. M. Smucker has a 12-month low of $109.85 and a 12-month high of $140.65.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a $0.99 dividend. This is a boost from The J. M. Smucker’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.32%. The J. M. Smucker’s dividend payout ratio (DPR) is presently 43.42%.

Institutional investors have recently bought and sold shares of the company. Financial Insights Inc. acquired a new stake in shares of The J. M. Smucker in the 2nd quarter worth $26,000. Itau Unibanco Holding S.A. purchased a new position in The J. M. Smucker in the 2nd quarter worth $33,000. Capital Analysts LLC purchased a new position in The J. M. Smucker in the 1st quarter worth $34,000. Stonebridge Capital Advisors LLC purchased a new position in The J. M. Smucker in the 1st quarter worth $36,000. Finally, Atlas Capital Advisors LLC raised its stake in The J. M. Smucker by 38.4% in the 2nd quarter. Atlas Capital Advisors LLC now owns 328 shares of the company’s stock worth $43,000 after acquiring an additional 91 shares during the last quarter. 86.42% of the stock is owned by hedge funds and other institutional investors.

About The J. M. Smucker

The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and CafĂ© Bustelo branded coffee.

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Earnings History and Estimates for The J. M. Smucker (NYSE:SJM)

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