These Analysts Slash Their Forecasts On JM Smucker After Q1 Earnings JM Smucker, Mark Smucker, Annual outlook, Net sales growth, Adjusted earnings, Quarterly earnings, J. M. Smucker Company, Thomas Palmer from Citigroup, Robert Moskow from TD Cowen., Peter Galbo from B of A Securities by https://www.benzinga.com/
AI Insights:
Simple Explanation:
there is a company called j.m. smucker, and they make yummy things like jam and peanut butter. they told everyone how much money they made in the last 3 months, and it was more than people thought! but they also said they won't make as much money as they thought they would by the end of the year. some people who look at how well companies are doing changed how much they think j.m. smucker is worth. even though the company did better than expected, their stock went down a little bit. Read from source...
Critical Perspective:
These Analysts Slash Their Forecasts On JM Smucker After Q1 Earnings.
While JM Smucker reported better-than-expected quarterly earnings, it has also lowered its annual outlook. The company cited progress in delivering its core business and integrating Hostess Brands as reasons for the result. However, some analysts have revised their price targets for SJM stock following the earnings announcement.
Bank of America Securities analyst Peter Galbo maintained a Neutral rating on the stock but lowered the price target from $130 to $122. Citigroup's Thomas Palmer maintained a Buy rating and reduced the price target from $138 to $136. Finally, TD Cowen's Robert Moskow also maintained a Buy rating but lowered the price target from $135 to $132.
Overall, despite some positive quarterly results, the lowered annual outlook seems to be weighing on the SJM stock price. It remains to be seen if this is a temporary blip or a sign of a longer-term trend. Investors may wish to consider the potential risks and uncertainties when assessing this stock for their portfolio.
Investment Analysis:
We are not financial advisors. It's always essential for you to consult with a financial advisor and do your research before making any decisions about investments.
JM Smucker Company (JSM) reported better-than-expected Q1 earnings but lowered its annual sales and EPS forecast, resulting in a 1.4% drop in stock price. This downgrade impacted the company's share prices and targets, with B of A Securities' Peter Galbo maintaining JSM with a Neutral rating and lowering the price target from $130 to $122. Citigroup's Thomas Palmer maintained a Buy rating and lowered the target from $138 to $136. TD Cowen's Robert Moskow maintained the stock with a Buy and lowered the target from $135 to $132. Given these changes and the reduction in forecasts, JSM is currently not a favorable investment opportunity. Watch for future updates and stabilize company performance before considering investing in JSM stock.