Hormel Foods (NYSE:HRL) Releases FY19 Earnings Guidance

Hormel Foods (NYSE:HRL) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.71-1.85 for the period, compared to the Thomson Reuters consensus estimate of $1.73. The company issued revenue guidance of $9.50-10.0 billion, compared to the consensus revenue estimate of $9.53 billion.Hormel Foods also updated its FY 2019 guidance to $1.71-1.85 EPS.

NYSE HRL opened at $42.00 on Thursday. The company has a 50 day simple moving average of $41.32 and a 200-day simple moving average of $41.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 1.16. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.11. Hormel Foods has a 52-week low of $36.25 and a 52-week high of $46.26.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.29 billion. Hormel Foods had a net margin of 10.38% and a return on equity of 17.31%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts predict that Hormel Foods will post 1.72 EPS for the current year.

HRL has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Hormel Foods from a hold rating to a sell rating and set a $43.00 price target for the company. in a research report on Friday, July 26th. Piper Jaffray Companies set a $46.00 price target on shares of Hormel Foods and gave the stock a buy rating in a research report on Thursday, May 23rd. Buckingham Research cut their price objective on shares of Hormel Foods from $38.00 to $35.00 and set a neutral rating on the stock in a research report on Friday, May 24th. Edward Jones lowered shares of Hormel Foods from a buy rating to a hold rating in a research report on Wednesday, June 12th. Finally, ValuEngine lowered shares of Hormel Foods from a buy rating to a hold rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $39.90.

In other Hormel Foods news, Director Robert Nakasone sold 18,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $39.89, for a total transaction of $718,020.00. Following the transaction, the director now owns 98,457 shares in the company, valued at $3,927,449.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James N. Sheehan sold 55,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $41.55, for a total value of $2,285,250.00. Following the transaction, the vice president now owns 60,000 shares in the company, valued at approximately $2,493,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,695 shares of company stock worth $3,601,503. Corporate insiders own 1.11% of the company’s stock.

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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