Hormel Foods Corp (HRL) Expected to Announce Earnings of $0.42 Per Share

Wall Street analysts expect Hormel Foods Corp (NYSE:HRL) to report $0.42 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Hormel Foods’ earnings. The highest EPS estimate is $0.45 and the lowest is $0.37. Hormel Foods posted earnings per share of $0.44 in the same quarter last year, which indicates a negative year-over-year growth rate of 4.5%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Hormel Foods will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.70. For the next financial year, analysts forecast that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.56 to $1.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Hormel Foods.

Hormel Foods (NYSE:HRL) last announced its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS.

A number of brokerages have weighed in on HRL. BidaskClub upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Barclays set a $40.00 target price on Hormel Foods and gave the stock an “overweight” rating in a research note on Friday, December 1st. Jefferies Group set a $34.00 target price on Hormel Foods and gave the stock a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research lowered Hormel Foods from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Buckingham Research decreased their target price on Hormel Foods from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.50.

In related news, Chairman James P. Snee sold 7,616 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total transaction of $260,162.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven G. Binder sold 15,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the sale, the insider now owns 26,838 shares of the company’s stock, valued at $858,816. The disclosure for this sale can be found here. Insiders have sold a total of 163,686 shares of company stock worth $5,625,515 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

A number of hedge funds have recently modified their holdings of HRL. Dupont Capital Management Corp purchased a new stake in Hormel Foods in the 3rd quarter worth approximately $100,000. Acrospire Investment Management LLC purchased a new stake in Hormel Foods in the 2nd quarter worth approximately $111,000. BB&T Investment Services Inc. purchased a new stake in Hormel Foods in the 2nd quarter worth approximately $118,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Hormel Foods by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after buying an additional 19 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Hormel Foods in the 2nd quarter worth approximately $189,000. Institutional investors own 38.33% of the company’s stock.

Shares of Hormel Foods (HRL) traded down $0.25 during midday trading on Tuesday, reaching $36.99. The company’s stock had a trading volume of 1,803,600 shares, compared to its average volume of 2,398,582. The company has a market cap of $19,656.32, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.42 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods has a fifty-two week low of $29.75 and a fifty-two week high of $38.00.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a dividend yield of 2.03%. Hormel Foods’s dividend payout ratio is 43.04%.

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