J.M. Smucker (NYSE:SJM)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, Stock Ratings Network.com reports. They currently have a $114.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 5.13% from the stock’s previous close.
Zacks‘ analyst wrote, “Smucker reported better-than-expected first quarter fiscal 2014 earnings of $1.24 per share, which beat the Zacks Consensus Estimate by 3.3% and the prior-year earnings by 6%. The upswing was driven by lower share count and volume gains in most of the categories. Smucker also raised its earnings guidance for fiscal 2014. Despite volume gains, net sales declined 1% due to lower price realization. Overall, we are impressed with the company’s strong portfolio of brands, focus on innovations, and promotional offerings. Moreover, strategic acquisitions have broadened Smucker’s presence across emerging markets and added popular brands to its portfolio. However, we remain concerned with declining consumer spending over the near term.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of J.M. Smucker from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of J.M. Smucker from $115.00 to $118.00 in a research note to investors on Tuesday, September 17th. They now have an “overweight” rating on the stock. Finally, analysts at Northcoast Research upgraded shares of J.M. Smucker from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, September 12th. They now have a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $112.22.
Shares of J.M. Smucker (NYSE:SJM) traded down 0.42% on Friday, hitting $107.98. 175,826 shares of the company’s stock traded hands. J.M. Smucker has a 1-year low of $81.60 and a 1-year high of $114.72. The stock has a 50-day moving average of $106.5 and a 200-day moving average of $105.1. The company has a market cap of $11.352 billion and a price-to-earnings ratio of 20.87.
J.M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 21st. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts predict that J.M. Smucker will post $5.84 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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