Hormel Foods (NYSE:HRL) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $1.71-1.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.72. The company issued revenue guidance of $9.5-10 billion, compared to the consensus revenue estimate of $9.54 billion.Hormel Foods also updated its FY19 guidance to $1.71-1.85 EPS.

A number of brokerages have recently issued reports on HRL. Stephens set a $37.00 price objective on Hormel Foods and gave the company a hold rating in a research note on Monday, August 12th. Buckingham Research reduced their price objective on Hormel Foods from $38.00 to $35.00 and set a neutral rating on the stock in a research note on Friday, May 24th. Edward Jones cut Hormel Foods from a buy rating to a hold rating in a research note on Wednesday, June 12th. Piper Jaffray Companies set a $46.00 price objective on Hormel Foods and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research cut Hormel Foods from a hold rating to a sell rating and set a $43.00 price objective on the stock. in a research note on Friday, July 26th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $39.90.

NYSE HRL opened at $42.00 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 1.16. The stock has a market capitalization of $23.01 billion, a PE ratio of 22.22, a PEG ratio of 3.26 and a beta of 0.11. Hormel Foods has a 1 year low of $36.52 and a 1 year high of $46.26. The business’s 50-day moving average is $41.34 and its 200 day moving average is $41.50.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. Hormel Foods’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, equities research analysts anticipate that Hormel Foods will post 1.75 earnings per share for the current year.

In related news, VP James N. Sheehan sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $41.55, for a total value of $2,285,250.00. Following the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $2,493,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Nakasone sold 14,695 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $40.71, for a total value of $598,233.45. Following the completion of the sale, the director now directly owns 78,457 shares in the company, valued at $3,193,984.47. The disclosure for this sale can be found here. Insiders sold 87,695 shares of company stock worth $3,601,503 over the last three months. 1.11% of the stock is owned by insiders.

About Hormel Foods

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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