Wells Fargo & Co. cut shares of J.M. Smucker (NYSE:SJM) from a market perform rating to an underperform rating in a research report sent to investors on Thursday morning, TheFlyOnTheWall.com reports.
SJM has been the subject of a number of other recent research reports. Analysts at Deutsche Bank cut their price target on shares of J.M. Smucker from $117.00 to $114.00 in a research note to investors on Tuesday. They now have a buy rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of J.M. Smucker in a research note to investors on Thursday, November 21st. They now have a $107.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of J.M. Smucker from an overweight rating to a neutral rating in a research note to investors on Thursday, November 21st. They now have a $110.00 price target on the stock, down previously from $123.00. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. J.M. Smucker presently has a consensus rating of Hold and an average target price of $113.20.
Shares of J.M. Smucker (NYSE:SJM) opened at 102.29 on Thursday. J.M. Smucker has a 1-year low of $84.57 and a 1-year high of $114.72. The stock’s 50-day moving average is $107.7 and its 200-day moving average is $106.6. The company has a market cap of $10.754 billion and a P/E ratio of 19.33.
J.M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, November 20th. The company reported $1.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.60 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company posted $1.45 earnings per share. J.M. Smucker’s revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that J.M. Smucker will post $5.79 earnings per share for the current fiscal year.
The J. M. Smucker Company operates principally in the manufacturing and marketing of branded food products on a worldwide basis.
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