Zacks: Analysts Expect Hormel Foods Corp (NYSE:HRL) Will Post Earnings of $0.45 Per Share

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Equities analysts expect Hormel Foods Corp (NYSE:HRL) to post earnings of $0.45 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Hormel Foods’ earnings, with estimates ranging from $0.45 to $0.46. Hormel Foods posted earnings of $0.44 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is scheduled to announce its next earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Hormel Foods will report full-year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.81. For the next year, analysts anticipate that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.74 to $2.02. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Hormel Foods.

Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 26th. The company reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Hormel Foods had a net margin of 10.31% and a return on equity of 16.14%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS.

Several analysts have commented on the stock. BMO Capital Markets set a $44.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a report on Friday, August 23rd. Bank of America initiated coverage on Hormel Foods in a research report on Friday, October 25th. They issued an “underperform” rating and a $40.00 target price for the company. Stephens restated a “hold” rating and issued a $43.00 target price (up previously from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.90.

HRL stock traded up $0.02 during trading on Wednesday, reaching $45.36. The company had a trading volume of 1,768,119 shares, compared to its average volume of 2,653,594. Hormel Foods has a 52 week low of $37.00 and a 52 week high of $45.84. The company has a market cap of $24.21 billion, a P/E ratio of 26.07, a PEG ratio of 4.26 and a beta of 0.07. The business has a 50 day moving average of $42.57 and a 200 day moving average of $41.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.19.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be paid a dividend of $0.2325 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.05%. Hormel Foods’s dividend payout ratio (DPR) is currently 48.28%.

In related news, insider Howse Steve 226,215 shares of Hormel Foods stock in a transaction dated Friday, October 18th. Also, VP Deanna T. Brady sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.03, for a total value of $1,761,200.00. Following the completion of the sale, the vice president now owns 75,172 shares in the company, valued at approximately $3,309,823.16. The disclosure for this sale can be found here. Insiders have sold 116,073 shares of company stock valued at $5,141,092 in the last ninety days. Insiders own 1.11% of the company’s stock.

A number of institutional investors have recently modified their holdings of HRL. Arizona State Retirement System boosted its position in shares of Hormel Foods by 2.2% during the second quarter. Arizona State Retirement System now owns 175,653 shares of the company’s stock worth $7,121,000 after buying an additional 3,859 shares during the period. Strs Ohio increased its holdings in shares of Hormel Foods by 0.9% in the 2nd quarter. Strs Ohio now owns 65,621 shares of the company’s stock worth $2,660,000 after acquiring an additional 606 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Hormel Foods in the 2nd quarter worth about $81,000. Breiter Capital Management Inc. increased its stake in shares of Hormel Foods by 4.0% in the second quarter. Breiter Capital Management Inc. now owns 12,574 shares of the company’s stock valued at $468,000 after purchasing an additional 485 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hormel Foods by 0.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock valued at $2,968,000 after purchasing an additional 299 shares during the period. 43.82% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Company Profile

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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