Hormel Foods Corporation (HRL) Scheduled to Post Quarterly Earnings on Thursday
Hormel Foods Corporation (NYSE:HRL) is scheduled to announce its earnings results before the market opens on Thursday, August 24th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Hormel Foods Corporation has set its FY17 guidance at $1.65-1.71 EPS.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned $0.40 EPS. Hormel Foods Corporation’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts expect Hormel Foods Corporation to post $1.66 EPS for the current fiscal year and $1.71 EPS for the next fiscal year.
Shares of Hormel Foods Corporation (NYSE HRL) opened at 34.35 on Thursday. The company has a market cap of $18.16 billion, a P/E ratio of 20.95 and a beta of 0.56. The company’s 50 day moving average is $33.62 and its 200-day moving average is $34.60. Hormel Foods Corporation has a 12 month low of $32.26 and a 12 month high of $40.00.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio is 41.46%.
A number of equities research analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. BidaskClub cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Mizuho assumed coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price for the company. Finally, Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $40.50.
In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the sale, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the sale, the insider now directly owns 22,532 shares in the company, valued at approximately $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.
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Hormel Foods Corporation Company Profile
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