Hormel Foods (NYSE:HRL) is set to post its quarterly earnings results before the market opens on Thursday, February 22nd. Analysts expect Hormel Foods to post earnings of $0.43 per share for the quarter. Hormel Foods has set its FY18 guidance at $1.60-1.70 EPS.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts expect Hormel Foods to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Hormel Foods (NYSE HRL) opened at $34.04 on Thursday. Hormel Foods has a 52-week low of $29.75 and a 52-week high of $38.00. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $18,030.00, a P/E ratio of 21.68, a P/E/G ratio of 2.07 and a beta of 0.49.
Several research analysts recently commented on the company. Jefferies Group raised Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday. Zacks Investment Research raised Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research report on Monday, November 6th. Piper Jaffray Companies assumed coverage on Hormel Foods in a research report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, Mizuho set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.30.
In other news, insider Thomas R. Day sold 34,346 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $36.47, for a total value of $1,252,598.62. Following the completion of the sale, the insider now directly owns 73,770 shares of the company’s stock, valued at $2,690,391.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven G. Binder sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.18, for a total value of $1,709,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,001 shares of company stock valued at $4,612,826. Insiders own 1.48% of the company’s stock.
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Hormel Foods Company Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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