Brokerages Anticipate J M Smucker Co (NYSE:SJM) Will Post Earnings of $2.16 Per Share

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Wall Street brokerages expect J M Smucker Co (NYSE:SJM) to announce $2.16 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for J M Smucker’s earnings, with the highest EPS estimate coming in at $2.23 and the lowest estimate coming in at $2.10. J M Smucker reported earnings of $2.17 per share during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 27th.

According to Zacks, analysts expect that J M Smucker will report full-year earnings of $8.37 per share for the current year, with EPS estimates ranging from $8.25 to $8.47. For the next year, analysts expect that the firm will report earnings of $8.73 per share, with EPS estimates ranging from $8.61 to $8.89. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover J M Smucker.

J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 27th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.17). J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $1.78 earnings per share. J M Smucker’s revenue for the quarter was down 6.5% on a year-over-year basis.

SJM has been the topic of a number of analyst reports. Citigroup reduced their target price on shares of J M Smucker from $142.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America reduced their target price on shares of J M Smucker from $128.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $107.00 target price (down from $114.00) on shares of J M Smucker in a research note on Wednesday, August 28th. Stifel Nicolaus reduced their target price on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. Finally, Guggenheim reduced their target price on shares of J M Smucker from $99.00 to $93.00 and set a “sell” rating on the stock in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. J M Smucker presently has a consensus rating of “Hold” and a consensus target price of $116.70.

In other news, insider Mark R. Belgya sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $113.55, for a total value of $85,162.50. Following the sale, the insider now directly owns 54,192 shares of the company’s stock, valued at approximately $6,153,501.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark T. Smucker sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $249,216.00. Following the completion of the sale, the chief executive officer now directly owns 140,975 shares in the company, valued at $15,969,648. The disclosure for this sale can be found here. Insiders sold a total of 4,937 shares of company stock worth $554,775 over the last three months. Insiders own 3.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SJM. Nuveen Asset Management LLC raised its stake in shares of J M Smucker by 22,638.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 590,961 shares of the company’s stock valued at $68,073,000 after acquiring an additional 588,362 shares during the period. LSV Asset Management increased its stake in J M Smucker by 10.5% during the 2nd quarter. LSV Asset Management now owns 4,223,812 shares of the company’s stock worth $486,540,000 after buying an additional 400,006 shares during the period. Prudential Financial Inc. increased its stake in J M Smucker by 72.1% during the 2nd quarter. Prudential Financial Inc. now owns 714,298 shares of the company’s stock worth $82,280,000 after buying an additional 299,231 shares during the period. BlackRock Inc. increased its stake in J M Smucker by 2.7% during the 2nd quarter. BlackRock Inc. now owns 9,934,921 shares of the company’s stock worth $1,144,403,000 after buying an additional 258,305 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in J M Smucker by 100.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 382,750 shares of the company’s stock worth $44,089,000 after buying an additional 191,644 shares during the period. 77.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of SJM stock opened at $107.62 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.70 and a quick ratio of 0.26. The firm’s 50-day moving average is $107.07 and its two-hundred day moving average is $115.97. J M Smucker has a 12 month low of $91.32 and a 12 month high of $128.43. The company has a market capitalization of $12.35 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 3.49 and a beta of 0.43.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded 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 the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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

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