Wall Street analysts expect Hormel Foods (HRL) to post quarterly earnings of $0.35 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $2.94 billion, up 1.6% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance 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.
With that in mind, let's delve into the average projections of some Hormel metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Net Sales- Retail' stands at $1.79 billion. The estimate indicates a year-over-year change of +0.4%.
The consensus among analysts is that 'Net Sales- International' will reach $187.34 million. The estimate indicates a year-over-year change of +4.9%.
Analysts' assessment points toward 'Net Sales- Foodservice' reaching $981.82 million. The estimate points to a change of +4.9% from the year-ago quarter.
Analysts predict that the 'Segment Profit- Foodservice' will reach $150.14 million. The estimate is in contrast to the year-ago figure of $140.63 million.
Based on the collective assessment of analysts, 'Segment Profit- International' should arrive at $21.53 million. Compared to the present estimate, the company reported $18.41 million in the same quarter last year.
Analysts expect 'Segment Profit- Retail' to come in at $117.81 million. The estimate is in contrast to the year-ago figure of $137.14 million.
View all Key Company Metrics for Hormel here>>>Hormel shares have witnessed a change of -3.1% in the past month, in contrast to the Zacks S&P 500 composite's +5.5% move. With a Zacks Rank #4 (Sell), HRL is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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