Hormel Foods (HRL) Issues FY 2019 Earnings Guidance
Hormel Foods (NYSE:HRL) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.71-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.80. The company issued revenue guidance of $9.5-10 billion, compared to the consensus revenue estimate of $9.7 billion.
HRL opened at $39.49 on Thursday. Hormel Foods has a one year low of $34.12 and a one year high of $46.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 1.46. The firm has a market capitalization of $21.33 billion, a PE ratio of 20.89, a PEG ratio of 2.93 and a beta of 0.12.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Hormel Foods will post 1.81 EPS for the current year.
A number of analysts have recently commented on HRL shares. ValuEngine downgraded Hormel Foods from a buy rating to a hold rating in a research note on Saturday, April 13th. Zacks Investment Research raised Hormel Foods from a hold rating to a buy rating and set a $47.00 target price on the stock in a research report on Thursday, February 28th. Stephens started coverage on Hormel Foods in a research report on Monday, March 4th. They set an equal weight rating on the stock. Jefferies Financial Group reiterated a hold rating and set a $44.00 price target on shares of Hormel Foods in a report on Thursday, February 21st. Finally, Credit Suisse Group restated a hold rating and issued a $39.00 target price on shares of Hormel Foods in a research note on Thursday, February 21st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $40.20.
In other news, insider Larry L. Vorpahl sold 180,000 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $44.47, for a total value of $8,004,600.00. Following the completion of the transaction, the insider now owns 280,194 shares in the company, valued at approximately $12,460,227.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lori J. Marco sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $41.56, for a total transaction of $540,280.00. Following the sale, the vice president now owns 48,304 shares of the company’s stock, valued at $2,007,514.24. The disclosure for this sale can be found here. In the last three months, insiders sold 274,705 shares of company stock worth $12,116,336. 1.11% of the stock is currently owned by company insiders.
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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