Hormel Foods (NYSE:HRL) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus EPS 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.
Several equities research analysts have recently issued reports on the company. Jefferies Group set a $34.00 price target on Hormel Foods and gave the company a hold rating in a research report on Thursday, November 30th. Barclays set a $40.00 price target on shares of Hormel Foods and gave the stock an overweight rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Hormel Foods from a buy rating to a hold rating in a research note on Friday, December 1st. BidaskClub upgraded shares of Hormel Foods from a sell rating to a hold rating in a research note on Monday, August 14th. Finally, Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the company a hold rating in a report on Friday, November 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $35.50.
Hormel Foods (HRL) traded down $0.17 on Thursday, reaching $36.93. 1,382,848 shares of the company traded hands, compared to its average volume of 2,406,100. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. Hormel Foods has a 1-year low of $29.75 and a 1-year high of $38.00. The company has a market cap of $19,582.43, a PE ratio of 23.48, a P/E/G ratio of 2.41 and a beta of 0.65.
Hormel Foods (NYSE:HRL) last issued 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. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. equities research analysts predict that Hormel Foods will post 1.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be paid a $0.1875 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is 43.04%.
In other Hormel Foods news, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the transaction, the director now owns 92,377 shares in the company, valued at approximately $2,919,113.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Nakasone sold 3,184 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,686 shares of company stock worth $8,917,915. 3.54% of the stock is owned by company insiders.
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Hormel Foods Company Profile
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