Hershey Co. (HSY) Releases FY14 Earnings Guidance
Hershey Co. (NYSE:HSY) updated its FY14 earnings guidance on Wednesday. The company provided EPS guidance of $4.05-4.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.14, Stock Ratings News reports. The company issued revenue guidance of +5-7% (~$7.5-7.65 billion), compared to the consensus revenue estimate of $7.64 billion.
Hershey Co. (NYSE:HSY) traded up 0.10% on Wednesday, hitting $106.07. The stock had a trading volume of 951,872 shares. Hershey Co. has a 52 week low of $79.14 and a 52 week high of $106.00. The stock’s 50-day moving average is $99.35 and its 200-day moving average is $96.17. The company has a market cap of $23.798 billion and a price-to-earnings ratio of 29.35.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, January 30th. The company reported $0.86 earnings per share for the quarter, meeting the analysts’ 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. Analysts expect that Hershey Co. will post $4.14 EPS 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 1.83%. The ex-dividend date is Friday, February 21st.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Hershey in a research note on Tuesday, February 4th. They now have a $104.00 price target on the stock. On a related note, analysts at Jefferies Group raised their price target on shares of Hershey from $95.00 to $99.00 in a research note on Friday, January 31st. Finally, analysts at Citigroup Inc. raised their price target on shares of Hershey from $110.00 to $112.00 in a research note on Friday, January 31st. They now have a buy rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $102.08.
In other Hershey news, Insider Michele Buck unloaded 13,668 shares of the stock on the open market in a transaction dated Friday, February 14th. The stock was sold at an average price of $105.00, for a total value of $1,435,140.00. Following the completion of the transaction, the insider now directly owns 77,437 shares of the company’s stock, valued at approximately $8,130,885. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
The Hershey Company is a producer of chocolate in North America and a provider in chocolate and sugar confectionery.
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