Smucker Gears Up For Q2 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
The J. M. Smucker Company (NYSE:SJM) is expected to release its Q2 fiscal 2024 earnings on Dec. 5, 2023, with an anticipated EPS of $2.48, up from $2.40 the previous year, and revenue estimates of $1.95 billion. The company recently agreed to sell its Fermented Food Condiment Brands in Canada to TreeHouse Foods for $20 million. Smucker's stock closed up 1.1% at $109.73. Analysts have provided mixed ratings and price target changes, with Deutsche Bank, Bernstein, TD Cowen, JP Morgan, and Consumer Edge Research analysts adjusting their outlooks and price targets.
December 01, 2023 | 7:39 am
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J.M. Smucker is anticipated to report increased earnings in Q2 fiscal 2024, with recent divestiture and mixed analyst ratings. Stock price increased slightly before earnings announcement.
The expected increase in earnings per share and revenue, along with the recent divestiture, could be seen as positive indicators for the company's financial health, potentially leading to a short-term positive impact on the stock price. The mixed analyst ratings and price target changes reflect uncertainty, but the overall positive earnings expectation and recent stock price increase suggest a short-term bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100