Brokerages Expect Hershey Co (HSY) Will Post Earnings of $1.27 Per Share

Wall Street analysts expect Hershey Co (NYSE:HSY) to report earnings of $1.27 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Hershey’s earnings, with the lowest EPS estimate coming in at $1.24 and the highest estimate coming in at $1.31. Hershey reported earnings of $1.03 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.3%. The firm is expected to issue its next quarterly earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Hershey will report full-year earnings of $5.37 per share for the current year, with EPS estimates ranging from $5.34 to $5.41. For the next fiscal year, analysts expect that the firm will report earnings of $5.66 per share, with EPS estimates ranging from $5.51 to $5.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Hershey.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 25th. The company reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Hershey had a return on equity of 102.30% and a net margin of 13.20%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion.

Several equities analysts have recently weighed in on HSY shares. Stifel Nicolaus increased their price target on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, July 27th. Piper Jaffray Companies raised their price target on Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a report on Friday, July 27th. Credit Suisse Group raised their price target on Hershey from $80.00 to $85.00 and gave the company a “sell” rating in a report on Friday, July 27th. Morgan Stanley raised their price target on Hershey from $93.00 to $98.00 and gave the company an “underweight” rating in a report on Friday, July 27th. Finally, ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $103.81.

Shares of NYSE HSY traded up $1.51 during midday trading on Friday, hitting $108.58. 1,659,250 shares of the stock traded hands, compared to its average volume of 1,346,017. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.37 and a beta of 0.17. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.01 and a quick ratio of 0.69. Hershey has a one year low of $89.10 and a one year high of $115.82.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be given a $0.722 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.89 annualized dividend and a yield of 2.66%. Hershey’s dividend payout ratio is currently 60.71%.

In other news, insider Todd W. Tillemans acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $107.32 per share, with a total value of $214,640.00. Following the completion of the purchase, the insider now directly owns 10,878 shares in the company, valued at $1,167,426.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin R. Walling sold 30,835 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the completion of the sale, the senior vice president now directly owns 57,611 shares of the company’s stock, valued at approximately $5,829,080.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,716 shares of company stock valued at $12,690,499. 0.92% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in HSY. BlackRock Inc. raised its position in shares of Hershey by 11.5% during the 3rd quarter. BlackRock Inc. now owns 12,694,041 shares of the company’s stock worth $1,294,795,000 after purchasing an additional 1,311,392 shares during the last quarter. FMR LLC grew its position in shares of Hershey by 9.9% during the third quarter. FMR LLC now owns 5,591,781 shares of the company’s stock worth $570,362,000 after acquiring an additional 502,725 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Hershey by 11.3% during the second quarter. Schroder Investment Management Group now owns 2,374,353 shares of the company’s stock worth $223,616,000 after acquiring an additional 240,286 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Hershey by 2.3% during the second quarter. Renaissance Technologies LLC now owns 2,188,000 shares of the company’s stock worth $203,615,000 after acquiring an additional 48,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Hershey by 51.2% during the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock worth $203,829,000 after acquiring an additional 676,300 shares during the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Earnings History and Estimates for Hershey (NYSE:HSY)

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