Hormel Foods Corp (HRL) Posts Quarterly Results
Hormel Foods Corp (NYSE:HRL) released its earnings data on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02, Stock Ratings News reports. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion.
Shares of Hormel Foods Corp (NYSE:HRL) opened at 47.86 on Thursday. Hormel Foods Corp has a 1-year low of $40.60 and a 1-year high of $49.87. The stock’s 50-day moving average is $47.42 and its 200-day moving average is $47.. The company has a market cap of $12.635 billion and a P/E ratio of 22.73.
A number of analysts have recently weighed in on HRL shares. Analysts at Credit Agricole downgraded shares of Hormel Foods Corp from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Analysts at Credit Suisse downgraded shares of Hormel Foods Corp from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $50.00 price target on the stock, up previously from $49.00. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.20.
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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