Hormel Foods (NYSE:HRL) Announces Earnings Results, Beats Estimates By $0.01 EPS

Hormel Foods (NYSE:HRL) released its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01, Bloomberg Earnings reports. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the business earned $0.45 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Hormel Foods updated its FY18 guidance to $1.60-1.70 EPS.

Hormel Foods (NYSE:HRL) remained flat at $$37.10 on Wednesday. The company’s stock had a trading volume of 2,451,599 shares, compared to its average volume of 2,410,407. Hormel Foods has a 52-week low of $29.75 and a 52-week high of $38.00. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The company has a market cap of $19,888.57, a price-to-earnings ratio of 23.85, a P/E/G ratio of 2.44 and a beta of 0.65.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio (DPR) is currently 43.04%.

HRL has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 target price for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price target on shares of Hormel Foods in a report on Monday, November 6th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Mizuho reaffirmed a “hold” rating and set a $33.00 price target on shares of Hormel Foods in a report on Wednesday, October 4th. Finally, Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.50.

In other news, Director Robert Nakasone sold 3,184 shares of Hormel Foods stock in a transaction on Monday, December 4th. The stock was sold at an average price of $37.50, for a total transaction of $119,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald H. Kremin sold 100,000 shares of Hormel Foods stock in a transaction on Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the sale, the insider now directly owns 887 shares of the company’s stock, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders have sold 282,116 shares of company stock valued at $9,365,355 in the last three months. Insiders own 3.54% of the company’s stock.

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Earnings History for Hormel Foods (NYSE:HRL)

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