Hershey Co (NYSE:HSY) Expected to Announce Earnings of $1.23 Per Share

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Analysts expect Hershey Co (NYSE:HSY) to post $1.23 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Hershey’s earnings, with the highest EPS estimate coming in at $1.25 and the lowest estimate coming in at $1.22. Hershey posted earnings per share of $1.26 during the same quarter last year, which indicates a negative year-over-year growth rate of 2.4%. The business is scheduled to announce its next earnings results on Thursday, January 30th.

On average, analysts expect that Hershey will report full-year earnings of $5.72 per share for the current financial year, with EPS estimates ranging from $5.70 to $5.75. For the next financial year, analysts forecast that the company will post earnings of $6.13 per share, with EPS estimates ranging from $6.10 to $6.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Hershey.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Hershey had a return on equity of 77.39% and a net margin of 16.18%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the company posted $1.55 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year.

A number of analysts recently issued reports on HSY shares. Royal Bank of Canada started coverage on Hershey in a research note on Thursday, October 17th. They set a “sector perform” rating and a $158.00 price objective on the stock. UBS Group set a $147.00 price objective on Hershey and gave the company a “hold” rating in a research note on Friday, October 25th. BMO Capital Markets boosted their price objective on Hershey from $133.00 to $138.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price objective on the stock. in a research note on Thursday, September 12th. They noted that the move was a valuation call. Finally, Bank of America set a $165.00 price objective on Hershey and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $145.57.

In related news, major shareholder Hershey Trust Co Trustee In Tr sold 6,800 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $145.06, for a total transaction of $986,408.00. Following the completion of the transaction, the insider now directly owns 47,170 shares in the company, valued at $6,842,480.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michele Buck sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $155.85, for a total value of $233,775.00. Following the transaction, the chief executive officer now owns 153,929 shares of the company’s stock, valued at $23,989,834.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,772 shares of company stock valued at $9,725,653. 0.41% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new position in shares of Hershey in the 2nd quarter worth about $25,000. Berman Capital Advisors LLC boosted its holdings in shares of Hershey by 172.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Hershey in the 3rd quarter worth about $28,000. Country Trust Bank purchased a new position in shares of Hershey in the 3rd quarter worth about $30,000. Finally, Adirondack Trust Co. purchased a new position in shares of Hershey in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 53.33% of the company’s stock.

Shares of NYSE:HSY traded up $1.36 during midday trading on Wednesday, reaching $150.16. 768,244 shares of the company traded hands, compared to its average volume of 1,181,710. The company has a quick ratio of 0.47, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Hershey has a 12 month low of $100.80 and a 12 month high of $162.20. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 3.53 and a beta of 0.05. The firm’s fifty day moving average price is $146.41 and its two-hundred day moving average price is $146.44.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.773 per share. This represents a $3.09 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, November 21st. Hershey’s payout ratio is 57.65%.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

Further Reading: Producer Price Index (PPI)

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Earnings History and Estimates for Hershey (NYSE:HSY)

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