Packaged food maker J.M. Smucker forecasts annual profit below estimate
1. J.M. Smucker forecasts lower annual profit due to declining demand. 2. Price hikes have negatively impacted dog snacks and sweet baked goods.
FAQ
Why Bearish?
The profit forecast below estimates indicates declining sales, mirroring past experiences in 2016 when Smucker's price increases led to a similar decrease in demand, affecting stock performance.
How important is it?
The forecasted profit decline is likely to directly affect investor sentiment and demand for SJM shares.
Why Short Term?
The immediate decline in earnings forecasts suggests short-term pressure on stock prices.