Hershey (HSY) Set to Announce Earnings on Friday

Hershey (NYSE:HSY) is scheduled to be announcing its earnings results before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $2.72 per share for the quarter. Hershey has set its FY24 guidance at $9.59 EPS and its FY 2024 guidance at 9.590-9.590 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts expect Hershey to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Hershey Stock Down 0.1 %

HSY stock opened at $193.70 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. Hershey has a 1-year low of $178.82 and a 1-year high of $276.71. The firm has a fifty day moving average price of $191.80 and a two-hundred day moving average price of $190.68. The firm has a market cap of $39.51 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.95 and a beta of 0.34.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a dividend of $1.37 per share. The ex-dividend date was Friday, February 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. This is a positive change from Hershey’s previous quarterly dividend of $1.19. Hershey’s dividend payout ratio is currently 60.55%.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Stifel Nicolaus increased their price objective on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Morgan Stanley downgraded Hershey from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $191.00 to $183.00 in a report on Monday, February 12th. Citigroup lowered their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Sanford C. Bernstein raised Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $212.78.

Insider Activity

In related news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the sale, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the transaction, the chief accounting officer now directly owns 1,862 shares in the company, valued at approximately $369,681.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now owns 38,728 shares of the company’s stock, valued at $7,196,824.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,453 shares of company stock worth $665,534. 0.29% of the stock is owned by corporate insiders.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.