NEW YORK (TheStreet) -- Shares of McCormick & Company Inc. (MKC) are down 3.1% to $68.97 after it reported lower sales in the Americas region for the second quarter ended in May.
Net income for the second quarter was 64 cents per share, while analysts surveyed by Thomson Reuters had projected 62 cents per share.
The company expects full-year 2014 earnings per share to be between $3.22 and $3.29 compared to the consensus estimate of $3.27.
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Separately, TheStreet Ratings team rates MCCORMICK & CO INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MCCORMICK & CO INC (MKC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."