Brokerages Expect Hershey Co (HSY) Will Announce Earnings of $1.06 Per Share

Wall Street brokerages expect that Hershey Co (NYSE:HSY) will post earnings of $1.06 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hershey’s earnings. The highest EPS estimate is $1.08 and the lowest is $1.03. Hershey reported earnings of $1.17 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.4%. The company is expected to announce its next earnings results on Friday, February 2nd.

On average, analysts expect that Hershey will report full year earnings of $4.80 per share for the current fiscal year, with EPS estimates ranging from $4.77 to $4.81. For the next year, analysts expect that the company will post earnings of $5.21 per share, with EPS estimates ranging from $5.14 to $5.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Hershey.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, October 26th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Hershey had a return on equity of 124.06% and a net margin of 9.52%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year.

A number of equities research analysts have recently commented on HSY shares. BMO Capital Markets reiterated a “hold” rating and set a $105.00 price objective on shares of Hershey in a research report on Friday, October 27th. Zacks Investment Research lowered Hershey from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Citigroup increased their target price on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada restated a “hold” rating and issued a $122.00 target price on shares of Hershey in a report on Friday, December 22nd. Finally, UBS Group reduced their target price on Hershey from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Hershey currently has an average rating of “Hold” and an average price target of $114.02.

In other news, SVP D Michael Wege sold 15,517 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total transaction of $45,980.00. Following the completion of the transaction, the insider now directly owns 164,097 shares in the company, valued at $18,862,950.15. The disclosure for this sale can be found here. Insiders sold 16,717 shares of company stock valued at $1,811,009 in the last 90 days. Corporate insiders own 0.92% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ropes Wealth Advisors LLC increased its stake in shares of Hershey by 1.9% in the second quarter. Ropes Wealth Advisors LLC now owns 5,447 shares of the company’s stock worth $585,000 after acquiring an additional 100 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Hershey by 1.1% in the second quarter. D.A. Davidson & CO. now owns 13,148 shares of the company’s stock worth $1,411,000 after acquiring an additional 138 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Hershey by 2.9% in the second quarter. Riverhead Capital Management LLC now owns 6,768 shares of the company’s stock worth $727,000 after acquiring an additional 189 shares during the last quarter. WFG Advisors LP increased its stake in shares of Hershey by 25.2% in the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after acquiring an additional 201 shares during the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Hershey by 2.3% in the second quarter. Moors & Cabot Inc. now owns 9,670 shares of the company’s stock worth $1,037,000 after acquiring an additional 220 shares during the last quarter. 51.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of Hershey (NYSE:HSY) traded down $0.82 during trading hours on Monday, hitting $109.27. The stock had a trading volume of 621,400 shares, compared to its average volume of 806,722. Hershey has a one year low of $101.61 and a one year high of $116.49. The firm has a market cap of $23,020.00, a P/E ratio of 32.52, a PEG ratio of 2.73 and a beta of 0.38. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55.

Hershey announced that its board has initiated a share buyback plan on Thursday, October 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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Hershey Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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