Wall Street brokerages expect that Hormel Foods Corp (NYSE:HRL) will report $0.46 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hormel Foods’ earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.49. Hormel Foods reported earnings per share of $0.41 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The business is scheduled to announce its next earnings results on Tuesday, November 20th.
On average, analysts expect that Hormel Foods will report full-year earnings of $1.76 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.86. For the next financial year, analysts anticipate that the business will post earnings of $1.85 per share, with EPS estimates ranging from $1.72 to $1.99. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Hormel Foods.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share.
HRL has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on Hormel Foods in a research report on Friday, September 28th. They issued a “neutral” rating and a $41.00 price target for the company. Barclays cut Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research report on Friday, August 24th. Mizuho cut Hormel Foods from a “neutral” rating to an “underperform” rating and set a $33.00 price target for the company. in a research report on Wednesday, July 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $44.00 price target on shares of Hormel Foods in a research report on Wednesday, August 29th. Finally, Zacks Investment Research cut Hormel Foods from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.27.
In related news, Director Terrell K. Crews sold 6,630 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $42.07, for a total transaction of $278,924.10. Following the completion of the transaction, the director now directly owns 106,027 shares in the company, valued at $4,460,555.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman James P. Snee sold 21,923 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total value of $829,785.55. Following the transaction, the chairman now owns 49,326 shares of the company’s stock, valued at $1,866,989.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,632 shares of company stock valued at $5,556,981. 1.48% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of HRL. Federated Investors Inc. PA grew its position in Hormel Foods by 79.1% during the first quarter. Federated Investors Inc. PA now owns 10,589 shares of the company’s stock worth $363,000 after buying an additional 4,678 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hormel Foods by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,907,032 shares of the company’s stock worth $65,449,000 after purchasing an additional 50,436 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Hormel Foods by 4.0% in the 1st quarter. Russell Investments Group Ltd. now owns 228,394 shares of the company’s stock worth $7,823,000 after purchasing an additional 8,810 shares in the last quarter. Natixis purchased a new position in shares of Hormel Foods in the 1st quarter worth about $3,007,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Hormel Foods by 24.2% in the 1st quarter. Ancora Advisors LLC now owns 22,074 shares of the company’s stock worth $757,000 after purchasing an additional 4,298 shares in the last quarter. Institutional investors and hedge funds own 41.83% of the company’s stock.
Shares of NYSE HRL traded up $0.83 during mid-day trading on Tuesday, hitting $41.29. The company had a trading volume of 139,333 shares, compared to its average volume of 2,653,802. The stock has a market cap of $21.00 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.69 and a beta of 0.34. Hormel Foods has a 1 year low of $29.75 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 1.69.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, October 19th. Hormel Foods’s payout ratio is 47.77%.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
Further Reading: Balance Sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.