Hershey Receives Neutral Rating from Zacks (HSY)
Hershey (NYSE:HSY)‘s stock had its “neutral” rating restated by Zacks in a report issued on Tuesday, Stock Ratings News reports. They currently have a $104.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 6.18% from the stock’s previous close.
Zacks‘ analyst wrote, “Hershey’s fourth-quarter 2013 adjusted earnings of $0.86 per share beat the Zacks Consensus Estimate by a penny. Earnings also rose 16.2% year over year driven by solid revenue growth which made up for softer margins as well as higher taxes. Revenues also beat the Zacks Consensus Estimate and grew 11.7% year over year, rebounding from a relatively softer performance in the third quarter. A solid holiday season led to better-than-expected sales in North America. Hershey also slightly raised its full-year 2014 earnings expectations Overall Hershey’s strong brand positioning, strategic marketing investments in core brands, disciplined innovation and consumer capabilities make it attractive. However, even though the company is fast expanding its presence outside the U.S., we prefer to remain on the sidelines until we see some meaningful progress and substantial profitability from these efforts. We, thus, have a Neutral recommendation on the stock.”
Hershey (NYSE:HSY) traded up 2.09% during mid-day trading on Tuesday, hitting $100.00. 2,087,470 shares of the company’s stock traded hands. Hershey has a 1-year low of $79.14 and a 1-year high of $101.37. The stock has a 50-day moving average of $97.34 and a 200-day moving average of $95.56. The company has a market cap of $22.436 billion and a P/E ratio of 27.13.
Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.89 billion. On average, analysts predict that Hershey will post $4.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, February 21st.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Hershey from $95.00 to $99.00 in a research note to investors on Friday. Separately, analysts at Citigroup Inc. raised their price target on shares of Hershey from $110.00 to $112.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Hershey from $95.00 to $103.00 in a research note to investors on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Hershey currently has a consensus rating of “Buy” and an average price target of $102.08.
The Hershey Company is a producer of chocolate in North America and a provider in chocolate and sugar confectionery.
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