J.M. Smucker FY15 EPS to beat consensus by wide margin, says Bernstein Bernstein reports that it has seen more concrete signals about the timing and magnitude of a rebound in J.M. Smucker's peanut butter profits next quarter, and the firm expects the company's FY15 EPS to beat the consensus outlook by 54c. The firm says the recent pullback in the stock "looks interesting," and it keeps an Outperform rating on the shares.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Allianz SE (AZSEY) downgraded to Neutral from Buy at Citigroup... Amicus Therapeutics (FOLD) downgraded to Neutral from Overweight at JPMorgan... Consolidated Edison (ED) downgraded to Underperform from Hold at Jefferies... J.M. Smucker (SJM) downgraded to Neutral from Overweight at JPMorgan... Philip Morris (PM) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Natural (PXD) downgraded to Perform from Outperform at Oppenheimer... Qualcomm (QCOM) downgraded to Outperform from Strong Buy at Raymond James... Quintiles (Q) downgraded to Hold from Buy at Deutsche Bank... Republic Services (RSG) downgraded to Neutral from Buy at Goldman... Children's Place (PLCE) downgraded to Neutral from Buy at Monness Crespi... America's Car-Mart (CRMT) downgraded to Underweight from Equal Weight at Stephens.
J.M. Smucker weakness creates buying opportunity, says Bernstein After J.M. Smucker reported Q2 results that Bernstein views as disappointing, the firm notes that the company's volumes remained positive last quarter while it expects profit growth at all three of its operating segments to grow in Q3.