Hormel Foods Corporation (HRL) Releases FY18 Earnings Guidance
Hormel Foods Corporation (NYSE:HRL) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.64. The company issued revenue guidance of $9.40-9.80 billion, compared to the consensus revenue estimate of $9.63 billion.
Hormel Foods Corporation (HRL) opened at $34.27 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.37. The firm has a market cap of $18,220.63, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.58. Hormel Foods Corporation has a 52 week low of $29.75 and a 52 week high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods Corporation had a net margin of 9.24% and a return on equity of 17.87%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. equities research analysts anticipate that Hormel Foods Corporation will post 1.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.19%. This is a boost from Hormel Foods Corporation’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. Hormel Foods Corporation’s payout ratio is presently 43.04%.
A number of analysts recently commented on the stock. BMO Capital Markets restated a buy rating and set a $38.00 price target on shares of Hormel Foods Corporation in a research note on Monday, November 6th. Mizuho restated a hold rating and set a $33.00 price target on shares of Hormel Foods Corporation in a research note on Wednesday, October 4th. Barclays PLC dropped their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an overweight rating on the stock in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a sell rating to a hold rating in a research note on Monday, September 11th. Finally, BidaskClub upgraded shares of Hormel Foods Corporation from a sell rating to a hold rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $34.44.
In other Hormel Foods Corporation news, VP James N. Sheehan sold 35,704 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the sale, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Morrison sold 24,814 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The disclosure for this sale can be found here. Insiders sold a total of 194,518 shares of company stock worth $6,132,366 over the last quarter. Corporate insiders own 3.54% of the company’s stock.
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Hormel Foods Corporation Company Profile
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