Hormel Foods Corp (HRL) Updates FY14 Earnings Guidance
Hormel Foods Corp (NYSE:HRL) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $2.17-2.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.18, Stock Ratings Network.com reports.
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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Hormel Foods Corp currently has an average rating of Hold and a consensus price target of $48.20.
Shares of Hormel Foods Corp (NYSE:HRL) opened at 47.86 on Thursday. Hormel Foods Corp has a 52 week low of $40.60 and a 52 week 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 price-to-earnings ratio of 22.73.
Hormel Foods Corp (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts expect that Hormel Foods Corp will post $2.19 EPS for the current fiscal year.
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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