Analysts Expect Hormel Foods Corp (NYSE:HRL) Will Announce Earnings of $0.45 Per Share

Equities analysts expect Hormel Foods Corp (NYSE:HRL) to report earnings per share of $0.45 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hormel Foods’ earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.46. Hormel Foods posted earnings per share of $0.47 during the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 24th.

According to Zacks, analysts expect that Hormel Foods will report full-year earnings of $1.68 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.79 per share, with EPS estimates ranging from $1.72 to $1.94. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Hormel Foods.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.03. Hormel Foods had a return on equity of 15.20% and a net margin of 9.59%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Hormel Foods’s revenue was up 4.0% compared to the same quarter last year.

HRL has been the subject of a number of research analyst reports. Seaport Global Securities initiated coverage on Hormel Foods in a research note on Tuesday. They issued a “neutral” rating for the company. They noted that the move was a valuation call. Cfra lifted their price objective on Hormel Foods from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, May 21st. Finally, Argus assumed coverage on Hormel Foods in a research note on Friday, July 17th. They set a “buy” rating and a $56.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and an average target price of $45.88.

NYSE HRL traded down $0.95 during midday trading on Thursday, hitting $49.72. 1,760,780 shares of the company traded hands, compared to its average volume of 2,433,736. Hormel Foods has a 52 week low of $39.01 and a 52 week high of $52.97. The company’s 50-day simple moving average is $51.27 and its 200-day simple moving average is $48.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.39 and a quick ratio of 1.70. The company has a market cap of $27.12 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 4.00 and a beta of -0.04.

In related news, Director Terrell K. Crews sold 11,950 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $51.86, for a total transaction of $619,727.00. Following the completion of the sale, the director now directly owns 100,638 shares of the company’s stock, valued at approximately $5,219,086.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deanna T. Brady sold 52,600 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $50.86, for a total value of $2,675,236.00. The disclosure for this sale can be found here. Insiders sold 171,635 shares of company stock worth $8,630,232 over the last ninety days. Corporate insiders own 1.15% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Hormel Foods by 1.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,279,662 shares of the company’s stock valued at $206,580,000 after acquiring an additional 70,030 shares during the period. Neuberger Berman Group LLC boosted its stake in Hormel Foods by 9.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 52,831 shares of the company’s stock worth $2,537,000 after purchasing an additional 4,714 shares during the period. WFA of San Diego LLC acquired a new stake in Hormel Foods during the 2nd quarter worth $1,362,000. Handelsbanken Fonder AB acquired a new stake in Hormel Foods during the 2nd quarter worth $3,189,000. Finally, Nuveen Asset Management LLC boosted its stake in Hormel Foods by 31.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,549,080 shares of the company’s stock worth $74,774,000 after purchasing an additional 367,466 shares during the period. 42.68% of the stock is owned by hedge funds and other institutional investors.

About Hormel Foods

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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