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Hershey (HSY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Hershey (HSY - Free Report) closed at $185.80, marking a -1.95% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Coming into today, shares of the chocolate bar and candy maker had lost 2.85% in the past month. In that same time, the Consumer Staples sector lost 2.75%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of Hershey in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 3, 2024. The company is expected to report EPS of $2.72, down 8.11% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.12 billion, indicating a 4.45% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.60 per share and revenue of $11.47 billion, which would represent changes of +0.1% and +2.75%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hershey. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% increase. Hershey is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Hershey is currently exchanging hands at a Forward P/E ratio of 19.74. This denotes a premium relative to the industry's average Forward P/E of 18.71.
One should further note that HSY currently holds a PEG ratio of 2.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Food - Confectionery industry had an average PEG ratio of 2.57 as trading concluded yesterday.
The Food - Confectionery industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hershey (HSY) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Hershey (HSY - Free Report) closed at $185.80, marking a -1.95% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.
Coming into today, shares of the chocolate bar and candy maker had lost 2.85% in the past month. In that same time, the Consumer Staples sector lost 2.75%, while the S&P 500 gained 1.6%.
Investors will be eagerly watching for the performance of Hershey in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 3, 2024. The company is expected to report EPS of $2.72, down 8.11% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $3.12 billion, indicating a 4.45% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.60 per share and revenue of $11.47 billion, which would represent changes of +0.1% and +2.75%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hershey. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% increase. Hershey is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Hershey is currently exchanging hands at a Forward P/E ratio of 19.74. This denotes a premium relative to the industry's average Forward P/E of 18.71.
One should further note that HSY currently holds a PEG ratio of 2.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Food - Confectionery industry had an average PEG ratio of 2.57 as trading concluded yesterday.
The Food - Confectionery industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.