Hormel Foods (NYSE:HRL) Updates FY 2019 Earnings Guidance

Hormel Foods (NYSE:HRL) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.76-1.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.74.

Shares of HRL stock opened at $41.16 on Friday. Hormel Foods has a 12 month low of $37.00 and a 12 month high of $46.26. The firm has a market cap of $21.98 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.90 and a beta of 0.06. The stock has a 50 day moving average of $42.90 and a 200-day moving average of $41.50. The company has a quick ratio of 1.06, a current ratio of 2.09 and a debt-to-equity ratio of 0.04.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. As a group, equities analysts predict that Hormel Foods will post 1.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, October 21st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. Hormel Foods’s payout ratio is 44.44%.

A number of research analysts recently commented on the company. Stephens set a $37.00 target price on Hormel Foods and gave the company a hold rating in a research note on Monday, August 12th. BMO Capital Markets set a $44.00 target price on Hormel Foods and gave the company a hold rating in a research note on Friday, August 23rd. Zacks Investment Research upgraded Hormel Foods from a sell rating to a hold rating and set a $45.00 target price for the company in a research note on Tuesday, August 27th. Finally, ValuEngine lowered Hormel Foods from a buy rating to a hold rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $40.10.

In other Hormel Foods news, Director Glenn S. Forbes sold 3,128 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $43.65, for a total value of $136,537.20. Following the sale, the director now directly owns 46,402 shares in the company, valued at $2,025,447.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Terrell K. Crews sold 9,046 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $42.35, for a total value of $383,098.10. Following the completion of the sale, the director now owns 113,305 shares in the company, valued at $4,798,466.75. The disclosure for this sale can be found here. Insiders sold 126,670 shares of company stock valued at $5,520,877 over the last 90 days. 1.11% of the stock is currently owned by corporate 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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Earnings History and Estimates for Hormel Foods (NYSE:HRL)

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