Hormel Foods (NYSE:HRL) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.77-1.91 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.96. The company issued revenue guidance of $9.7-10.2 billion, compared to the consensus revenue estimate of $10.08 billion.Hormel Foods also updated its FY19 guidance to $1.77-1.99 EPS.
Hormel Foods stock traded down $1.14 during midday trading on Thursday, reaching $41.99. The stock had a trading volume of 4,465,118 shares, compared to its average volume of 2,980,766. Hormel Foods has a 1-year low of $31.83 and a 1-year high of $46.26. The firm has a market cap of $23.06 billion, a PE ratio of 22.22, a P/E/G ratio of 2.83 and a beta of 0.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 1.80.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $0.56 EPS. Hormel Foods’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Hormel Foods will post 1.84 EPS for the current year.
In other Hormel Foods news, Director Dakota A. Pippins sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $44.59, for a total transaction of $178,360.00. Following the transaction, the director now owns 87,912 shares of the company’s stock, valued at approximately $3,919,996.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elsa A. Murano sold 5,808 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $42.00, for a total value of $243,936.00. Following the transaction, the director now directly owns 98,565 shares in the company, valued at approximately $4,139,730. The disclosure for this sale can be found here. Insiders have sold a total of 208,655 shares of company stock worth $9,414,670 in the last ninety days. Insiders own 1.11% of the company’s stock.
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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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