Hormel Foods (HRL) Scheduled to Post Quarterly Earnings on Wednesday

Hormel Foods (NYSE:HRL - Get Free Report) will post its quarterly earnings results before the market opens on Wednesday, September 4th. Analysts expect Hormel Foods to post earnings of $0.36 per share for the quarter. Hormel Foods has set its FY 2024 guidance at 1.550-1.650 EPS and its FY24 guidance at $1.55-1.65 EPS.Individual that wish to register for the company's earnings conference call can do so using this link.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Hormel Foods had a return on equity of 11.31% and a net margin of 6.37%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Hormel Foods's revenue was down 2.9% on a year-over-year basis. On average, analysts expect Hormel Foods to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Hormel Foods Price Performance

HRL stock traded up $0.18 on Wednesday, reaching $32.39. The company had a trading volume of 1,993,155 shares, compared to its average volume of 2,680,586. Hormel Foods has a 1 year low of $28.51 and a 1 year high of $40.12. The company has a market cap of $17.76 billion, a P/E ratio of 23.14, a PEG ratio of 3.11 and a beta of 0.24. The company's fifty day moving average is $31.41 and its 200 day moving average is $32.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.73.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HRL shares. Stephens reissued an "equal weight" rating and set a $32.00 price target on shares of Hormel Foods in a research note on Friday, May 31st. JPMorgan Chase & Co. raised Hormel Foods from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $28.00 to $29.00 in a research note on Friday, May 31st. Finally, Citigroup raised Hormel Foods from a "neutral" rating to a "buy" rating and increased their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Hormel Foods presently has an average rating of "Hold" and an average target price of $32.33.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.