Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, March 30, 2012

Article Excerpt

PLEASE NOTE: Our next Hotline will go out on Thursday, April 5, 2012. MCCORMICK & CO. INC., $54.43, New York symbol MKC, makes spices, herbs, seasonings, specialty foods and flavours. It sells these products to grocery stores and other clients in the food industry. In its fiscal 2012 first quarter, which ended February 29, 2012, McCormick’s sales rose 15.8%, to $906.7 million from $782.8 million a year earlier. About half of this increase came from recently acquired spice makers and food companies in India and Eastern Europe. However, earnings fell 3.0%, to $74.5 million, or $0.55 a share. A year earlier, McCormick earned $76.8 million, or $0.57 a share. Even with the decline, the latest earnings beat the consensus estimate of $0.53 a share. Rising raw material costs were the main reason for the lower earnings. However, McCormick expects ingredient prices to ease for the rest of 2012. The company also raised its advertising spending by 22%. McCormick continues to find other ways to cuts…