$0.43 Earnings Per Share Expected for Hormel Foods Corporation (HRL) This Quarter

Wall Street analysts forecast that Hormel Foods Corporation (NYSE:HRL) will report earnings of $0.43 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Hormel Foods Corporation’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.37. Hormel Foods Corporation posted earnings of $0.44 per share in the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The firm is scheduled to issue its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Hormel Foods Corporation will report full year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.51 to $1.75. For the next financial year, analysts expect that the firm will post earnings of $1.61 per share, with EPS estimates ranging from $1.56 to $1.70. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Hormel Foods Corporation.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Hormel Foods Corporation had a return on equity of 17.87% and a net margin of 9.24%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year.

Several analysts recently issued reports on HRL shares. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday. Barclays PLC reduced their price objective on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, August 25th. BMO Capital Markets restated an “outperform” rating and issued a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Finally, Buckingham Research reduced their price objective on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.90.

Hormel Foods Corporation (NYSE:HRL) traded down $0.25 during midday trading on Friday, hitting $34.27. The stock had a trading volume of 3,144,000 shares, compared to its average volume of 2,377,919. Hormel Foods Corporation has a fifty-two week low of $29.75 and a fifty-two week high of $37.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.91. The stock has a market cap of $18,088.67, a price-to-earnings ratio of 21.69, a PEG ratio of 2.22 and a beta of 0.58.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be given a $0.1875 dividend. This is an increase from Hormel Foods Corporation’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods Corporation’s payout ratio is currently 43.04%.

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In other Hormel Foods Corporation news, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $31.60, for a total value of $126,400.00. Following the completion of the transaction, the director now directly owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at $858,816. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,518 shares of company stock valued at $6,132,366. 3.54% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its position in shares of Hormel Foods Corporation by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after buying an additional 19 shares in the last quarter. ING Groep NV grew its position in shares of Hormel Foods Corporation by 0.4% during the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after buying an additional 53 shares in the last quarter. FineMark National Bank & Trust grew its position in shares of Hormel Foods Corporation by 0.8% during the second quarter. FineMark National Bank & Trust now owns 10,506 shares of the company’s stock worth $358,000 after buying an additional 80 shares in the last quarter. Cadence Capital Management LLC grew its position in shares of Hormel Foods Corporation by 1.0% during the second quarter. Cadence Capital Management LLC now owns 9,922 shares of the company’s stock worth $338,000 after buying an additional 98 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its position in shares of Hormel Foods Corporation by 0.6% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock worth $605,000 after buying an additional 100 shares in the last quarter. 38.17% of the stock is owned by institutional investors.

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