Hostess Brands (NASDAQ:TWNK) Updates FY17 Earnings Guidance
Hostess Brands (NASDAQ:TWNK) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.64. The company issued revenue guidance of $781, compared to the consensus revenue estimate of $781.26 million.
A number of research analysts recently issued reports on the company. Zacks Investment Research lowered Hostess Brands from a buy rating to a hold rating in a research report on Tuesday. BidaskClub upgraded Hostess Brands from a hold rating to a buy rating in a research report on Friday, June 9th. Stephens assumed coverage on Hostess Brands in a research report on Tuesday, May 16th. They set an overweight rating and a $20.00 price objective for the company. UBS AG assumed coverage on Hostess Brands in a research report on Monday, July 31st. They set a neutral rating and a $16.00 price objective for the company. Finally, Deutsche Bank AG set a $19.00 price objective on Hostess Brands and gave the company a buy rating in a research report on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Hostess Brands currently has a consensus rating of Buy and an average target price of $17.83.
Hostess Brands (TWNK) traded down 1.37% on Tuesday, reaching $15.11. The company had a trading volume of 1,646,730 shares. The stock’s market cap is $1.50 billion. The company has a 50-day moving average of $15.82 and a 200 day moving average of $15.73. Hostess Brands has a one year low of $10.35 and a one year high of $17.18.
Hostess Brands (NASDAQ:TWNK) last issued its earnings results on Tuesday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. On average, equities research analysts predict that Hostess Brands will post $0.64 EPS for the current year.
In other news, insider Cdm Hostess Class C, Llc sold 330,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $16.44, for a total value of $5,425,200.00. Following the completion of the transaction, the insider now directly owns 195,000 shares of the company’s stock, valued at approximately $3,205,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Douglas Toler bought 50,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average cost of $15.85 per share, with a total value of $792,500.00. Following the completion of the acquisition, the insider now owns 485,000 shares in the company, valued at approximately $7,687,250. The disclosure for this purchase can be found here. Corporate insiders own 25.50% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Hostess Brands (NASDAQ:TWNK) Updates FY17 Earnings Guidance” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/08/hostess-brands-nasdaqtwnk-updates-fy17-earnings-guidance.html.
Receive News & Ratings for Hostess Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hostess Brands and related companies with MarketBeat.com's FREE daily email newsletter.