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 $1.77-1.91 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.

A number of equities research analysts recently issued reports on HRL shares. Piper Jaffray Companies set a $50.00 target price on Hormel Foods and gave the company a buy rating in a research report on Tuesday, November 6th. Credit Suisse Group set a $39.00 target price on Hormel Foods and gave the company a hold rating in a research report on Wednesday, November 21st. Barclays set a $40.00 target price on Hormel Foods and gave the company a hold rating in a research report on Wednesday, November 21st. Zacks Investment Research reissued a sell rating on shares of Hormel Foods in a research report on Tuesday, November 13th. Finally, Jefferies Financial Group lowered Hormel Foods from a buy rating to a hold rating and set a $44.00 target price on the stock. in a research report on Tuesday, November 27th. Three investment 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. Hormel Foods has an average rating of Hold and an average price target of $40.56.

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

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