Hormel Foods Corp. (HRL) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Hormel Foods Corp. (NYSE:HRL) released its earnings data on Thursday. The company reported $0.57 EPS for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.01, Analyst Ratings Network reports. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. Hormel Foods Corp. updated its FY14 guidance to $2.17-2.27 EPS.
Hormel Foods Corp. (NYSE:HRL) traded up 1.21% on Thursday, hitting $45.86. 526,463 shares of the company’s stock traded hands. Hormel Foods Corp. has a one year low of $36.10 and a one year high of $46.75. The stock has a 50-day moving average of $44.96 and a 200-day moving average of $43.74. The company has a market cap of $12.092 billion and a P/E ratio of 23.24.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Hormel Foods Corp. in a research note on Monday, December 16th. They set a “neutral” rating on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp. in a research note on Tuesday, December 3rd. They now have a $48.00 price target on the stock. Finally, analysts at Stephens downgraded shares of Hormel Foods Corp. from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th. They now have a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.75.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
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