Hormel Foods (NYSE:HRL) is set to post its quarterly earnings results before the market opens on Thursday, May 23rd. Analysts expect Hormel Foods to post earnings of $0.45 per share for the quarter. Hormel Foods has set its FY 2019 guidance at $1.77-1.91 EPS and its FY19 guidance at $1.77-1.99 EPS.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $0.56 EPS. Hormel Foods’s revenue for the quarter was up 1.2% 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.
Shares of Hormel Foods stock opened at $39.56 on Thursday. Hormel Foods has a 52-week low of $34.12 and a 52-week high of $46.26. The company has a market capitalization of $21.20 billion, a P/E ratio of 20.93, a PEG ratio of 2.62 and a beta of 0.12. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, April 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, April 12th. Hormel Foods’s dividend payout ratio is presently 44.44%.
In other Hormel Foods news, VP Lori J. Marco sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $41.56, for a total value of $540,280.00. Following the completion of the transaction, the vice president now directly owns 48,304 shares in the company, valued at $2,007,514.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gary Jamison sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $44.37, for a total value of $354,960.00. Following the completion of the transaction, the vice president now owns 15,991 shares of the company’s stock, valued at $709,520.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,705 shares of company stock valued at $12,116,336. Corporate insiders own 1.11% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Goldman Sachs Group lowered Hormel Foods from a “neutral” rating to a “sell” rating and dropped their target price for the company from $37.00 to $35.00 in a research report on Tuesday, April 23rd. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, February 28th. Jefferies Financial Group reissued a “hold” rating and issued a $44.00 target price on shares of Hormel Foods in a research report on Thursday, February 21st. Stephens assumed coverage on Hormel Foods in a research report on Monday, March 4th. They issued an “equal weight” rating on the stock. Finally, Credit Suisse Group reissued a “hold” rating and issued a $39.00 target price on shares of Hormel Foods in a research report on Thursday, February 21st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Hormel Foods has a consensus rating of “Hold” and an average price target of $40.20.
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Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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