The J. M. Smucker Company (SJM) is set to release its financial results for the second quarter of fiscal 2024 on December 5, 2023, before the opening bell. Analysts are expecting the company to report quarterly earnings of $2.48 per share, an increase from the year-ago earnings of $2.40 per share. The revenue for the latest quarter is projected to be around $1.95 billion, according to Benzinga Pro.
In October, J.M. Smucker announced an agreement to sell its Fermented Food Condiment Brands in Canada to TreeHouse Foods in an all-cash transaction valued at $20 million. This move demonstrates the company’s strategic focus on streamlining its portfolio and optimizing its operations.
Smucker shares closed at $109.73 on Thursday, reflecting a 1.1% gain. The company has been performing well, and investors are eagerly awaiting the release of its financial results to assess its growth prospects.
For readers interested in analyst ratings, Benzinga offers the latest insights on the Analyst Stock Ratings page. Users can sort by stock ticker, company name, analyst firm, rating change, or other variables to find the most relevant information.
Benzinga’s most accurate analysts have provided ratings for J.M. Smucker in the recent period. Let’s take a look at their assessments:
– Deutsche Bank analyst Steve Powers maintained a Hold rating but reduced the price target from $135 to $125 on November 16, 2023. This analyst has an accuracy rate of 67%.
– Bernstein analyst Alexia Howard upgraded the stock from Underperform to Market Perform and lowered the price target from $123 to $119 on November 14, 2023. This analyst has an accuracy rate of 66%.
– TD Cowen analyst Robert Moskow initiated coverage on the stock with an Outperform rating and a price target of $158 on September 13, 2023. This analyst has an accuracy rate of 68%.
– JP Morgan analyst Ken Goldman maintained a Neutral rating but reduced the price target from $153 to $137 on September 12, 2023. This analyst has an accuracy rate of 81%.
– Consumer Edge Research analyst Connor Rattigan upgraded the stock from Underweight to Equal-Weight with a price target of $154 on September 1, 2023. This analyst has an accuracy rate of 70%.
These ratings provide a comprehensive overview of the analysts’ opinions on J.M. Smucker’s performance and potential. Investors can consider these assessments while making informed decisions about their investments.
In conclusion, the J. M. Smucker Company is expected to release its second-quarter fiscal 2024 financial results soon. With projected earnings of $2.48 per share and revenue of $1.95 billion, the company’s performance is anticipated to be positive. Additionally, analysts’ ratings offer valuable insights into the company’s prospects. Investors should stay updated with the latest news to make informed decisions regarding their investments in J.M. Smucker.
