Hormel Foods Corp (HRL) Expected to Announce Earnings of $0.46 Per Share

Share on StockTwits

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

Get a free copy of the Zacks research report on Hormel Foods (HRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Hormel Foods (NYSE:HRL)

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.

Leave a Reply