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%.
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.
ILLEGAL ACTIVITY WARNING: “Hormel Foods (NYSE:HRL) Announces Earnings Results, Beats Estimates By $0.01 EPS” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/12/06/hormel-foods-corporation-hrl-releases-earnings-results-beats-expectations-by-0-01-eps.html.
About Hormel Foods
Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.