In its upcoming report, Hormel Foods (HRL) is predicted by Wall Street analysts to post quarterly earnings of $0.30 per share, reflecting a decline of 28.6% compared to the same period last year. Revenues are forecasted to be $3.2 billion, representing a year-over-year increase of 2.1%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Hormel metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Net Sales- Retail' will reach $1.95 billion. The estimate indicates a change of +2% from the prior-year quarter.
Analysts expect 'Net Sales- International' to come in at $188.17 million. The estimate points to a change of +1.7% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Foodservice' reaching $1.07 billion. The estimate points to a change of +2.4% from the year-ago quarter.
Based on the collective assessment of analysts, 'Segment Profit- Foodservice' should arrive at $123.02 million. The estimate compares to the year-ago value of $154.34 million.
The consensus estimate for 'Segment Profit- International' stands at $21.78 million. The estimate compares to the year-ago value of $27.06 million.
The collective assessment of analysts points to an estimated 'Segment Profit- Retail' of $103.48 million. Compared to the current estimate, the company reported $152.93 million in the same quarter of the previous year.
View all Key Company Metrics for Hormel here>>>
Shares of Hormel have demonstrated returns of +7.5% over the past month compared to the Zacks S&P 500 composite's -0.5% change. With a Zacks Rank #4 (Sell), HRL is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hormel Foods Corporation (HRL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
