These Analysts Slash Their Forecasts On JM Smucker After Q1 Earnings
Portfolio Pulse from Avi Kapoor
JM Smucker reported better-than-expected Q1 earnings but lowered its annual outlook, leading analysts to cut their price targets. Despite the earnings beat, the company's revised guidance caused a 1.4% drop in its stock price.
August 29, 2024 | 5:25 pm
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JM Smucker reported Q1 earnings of $2.44 per share, beating estimates, but lowered its annual sales and earnings outlook. This led to a 1.4% drop in stock price and analysts lowering their price targets.
Despite beating Q1 earnings estimates, JM Smucker's lowered annual outlook suggests potential challenges ahead, leading to a negative short-term impact on the stock price. Analysts' reduced price targets further indicate cautious sentiment.
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IMPORTANCE 80
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