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McCormick Got Grinded Up This Week by rollandthomas

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· @rollandthomas ·
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McCormick Got Grinded Up This Week
<center>https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/mck.png</center> <br/><p>McCormick (NYSE: MKC) manufactures, markets, and distributes spices, seasoning mixes, condiments such as Zatarain's, Lawry's, Old Bay Seasoning, French's, Frank's Red Hot, Mojave Foods, Cattleman's.</p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-214-1024x382.png" alt="" class="wp-image-3356" />
<p>McCormick announced fourth quarter earnings on Thursday and reported sales of $1.50 billion vs expectations of $1.55 billion and earnings per share $1.67 vs expectations of earnings per share of $1.70.&nbsp; McCormick cited higher marketing and freight cost and weakness in Asia and Europe as some of the reasons for the lowered numbers.&nbsp;</p>
<p>NOTE: had it not been for their acquisition of the Frank's and French's brands in the summer of 2017, sales and earnings would have been lower.</p>
<p>McCormick projected that sales will grow at just a 1% to 3% rate and earnings of $5.17 to $5.27 per share for 2019, lower than expectations of $5.50 per share.</p>
<p>Needless to say, Wall Street wasn’t happy and the stock fell 10%, its worst sell off since 1980.  </p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-216-1024x481.png" alt="" class="wp-image-3358" />
<p>McCormick is in the consumer stable sector a slow-growth defensive stock.  And despite the haircut in price, a P/E of 23.6 still makes McCormick a bit overvalued, which is why Wall Street once McCormick to continue to acquire other companies.  Previous acquisitions include:</p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-215-1024x346.png" alt="" class="wp-image-3357" />
<p>However, as you become bigger and bigger, it becomes a law of numbers game.&nbsp; And when you factor in their debt and the cost of debt increasing, it’s going to be difficult to continue to grow like they have in the past.&nbsp;</p>
<p> So where might price head next, lets go to the charts to find out?</p>
<p>Although price broke the monthly up trendline,</p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-217-1024x480.png" alt="" class="wp-image-3359" />
<p>There is a monthly demand zone right below. </p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-218-1024x478.png" alt="" class="wp-image-3360" />
<p>Because that was just a big red candle the momentum has shifted to the downside.  Thus, if the demand at $116 is breached, the chart suggest price will then head down to the monthly demand at $90. </p>
<img src="https://mentormarket.io/rolland/wp-content/uploads/sites/5/2019/01/image-219-1024x480.png" alt="" class="wp-image-3361" />
<p>This post is my personal
opinion. I’m not a financial advisor, this isn't financial advise. Do your own
research before making investment decisions.</p>
  
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<center><em>Published by <a href="https://mentormarket.io/rolland">Rolland Thomas</a>
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