Wall Street analysts forecast that Hormel Foods (HRL) will report quarterly earnings of $0.41 per share in its upcoming release, pointing to a year-over-year increase of 10.8%. It is anticipated that revenues will amount to $2.98 billion, exhibiting an increase of 2.7% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Hormel metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Net Sales- Retail' to come in at $1.82 billion. The estimate points to a change of +3% from the year-ago quarter.
Analysts predict that the 'Net Sales- International' will reach $191.35 million. The estimate suggests a change of +8% year over year.
Based on the collective assessment of analysts, 'Net Sales- Foodservice' should arrive at $967.49 million. The estimate indicates a year-over-year change of +1.4%.
It is projected by analysts that the 'Segment Profit- Foodservice' will reach $146.66 million. Compared to the current estimate, the company reported $142.49 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Segment Profit- International' of $24.41 million. The estimate is in contrast to the year-ago figure of $21.79 million.
Analysts' assessment points toward 'Segment Profit- Retail' reaching $157.82 million. The estimate compares to the year-ago value of $127.93 million.
View all Key Company Metrics for Hormel here>>>
Over the past month, shares of Hormel have remained unchanged versus the Zacks S&P 500 composite's +2.7% change. Currently, HRL carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Hormel Foods Corporation (HRL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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