J. M. Smucker (NYSE:SJM) Issues FY22 Earnings Guidance

J. M. Smucker (NYSE:SJM) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided EPS guidance of $8.35-8.75 for the period, compared to the Thomson Reuters consensus EPS estimate of $8.41. The company issued revenue guidance of +/-0.5% yr/yr to ~$7.96-8.04 billion, compared to the consensus revenue estimate of $7.83 billion.J. M. Smucker also updated its FY 2022 guidance to $8.350-$8.750 EPS.

Shares of SJM stock traded down $1.33 during trading hours on Thursday, reaching $132.30. 1,068,779 shares of the company traded hands, compared to its average volume of 936,051. J. M. Smucker has a 12-month low of $110.53 and a 12-month high of $140.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.31. The company has a market cap of $14.34 billion, a P/E ratio of 18.61, a P/E/G ratio of 12.55 and a beta of 0.32. The firm has a 50-day moving average price of $123.59 and a 200 day moving average price of $128.19.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, November 23rd. The company reported $2.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.39. J. M. Smucker had a return on equity of 11.64% and a net margin of 10.06%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $2.39 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that J. M. Smucker will post 8.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Friday, November 12th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $3.96 dividend on an annualized basis and a yield of 2.99%. J. M. Smucker’s dividend payout ratio is presently 55.70%.

J. M. Smucker declared that its board has approved a share buyback program on Friday, October 22nd that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

A number of research analysts recently commented on the company. Citigroup boosted their price target on J. M. Smucker from $132.00 to $138.00 and gave the stock a neutral rating in a report on Wednesday. Jefferies Financial Group assumed coverage on J. M. Smucker in a report on Thursday, August 26th. They issued a hold rating and a $140.00 price target on the stock. Guggenheim raised J. M. Smucker from a neutral rating to a buy rating and boosted their price target for the stock from $136.00 to $146.00 in a report on Tuesday, November 9th. Morgan Stanley lifted their price objective on J. M. Smucker from $117.00 to $125.00 and gave the stock an underweight rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on J. M. Smucker from $140.00 to $132.00 and set a hold rating on the stock in a research note on Friday, August 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, J. M. Smucker presently has a consensus rating of Hold and a consensus price target of $134.45.

J. M. Smucker Company Profile

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 J. M. Smucker (NYSE:SJM)

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