Hormel Foods Corporation (HRL) to Release Earnings on Wednesday
Hormel Foods Corporation (NYSE:HRL) is set to post its quarterly earnings results before the market opens on Wednesday, August 16th. Analysts expect Hormel Foods Corporation to post earnings of $0.38 per share for the quarter. Hormel Foods Corporation has set its FY17 guidance at $1.65-1.71 EPS.
Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts expect Hormel Foods Corporation to post $1.66 EPS for the current fiscal year and $1.71 EPS for the next fiscal year.
Hormel Foods Corporation (NYSE:HRL) opened at 33.66 on Wednesday. Hormel Foods Corporation has a 1-year low of $32.26 and a 1-year high of $40.00. The firm’s 50 day moving average price is $33.69 and its 200-day moving average price is $34.75. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 20.52 and a beta of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.
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HRL has been the subject of several recent research reports. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group decreased their target price on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 26th. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Hormel Foods Corporation currently has an average rating of “Hold” and an average price target of $40.27.
In related news, insider Thomas R. Day sold 11,139 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at $830,334.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the transaction, the insider now directly owns 22,532 shares of the company’s stock, valued at $784,338.92. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.
About Hormel Foods Corporation
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