We issued an updated research report on premium meat products company, Hormel Foods Corporation (HRL - Free Report) , on Sep 26, 2016.
Strong Growth Prospects
Hormel Foods lately reaffirmed that it expects to genearte adjusted earnings within the range of $1.60–$1.64 per share for fiscal 2016. The previously estimated earnings guidance was $1.56–$1.60 per share. The Zacks Rank #2 (Buy) stock is steadily improving its business on the back of a balanced product portfolio, increased innovation, enhanced operational efficacy and meaningful business acquisitions.
Notably, certain major brands of the company such as Old Smokehouse Bacon, Hormel Fire Braised meat, Muscle Milk Protein products, Skippy & Spam products and Wholly Guacamole dips are becoming popular in the market. Higher demand for these unique branded products is expected to boost the company’s revenues in the quarters ahead.
Hormel Foods estimates roughly 5% increase in revenues and 10% in earnings, in the upcoming years. Based on the aforesaid mentioned bullish aspects, the Zacks Consensus Estimate for the stock has been revised upwards by 1.9% for fiscal 2016 and 3.1% for fiscal 2017, over the last 60 days.
Other Stocks to Consider
Some other favorably placed stocks within the industry are listed below:
Sanderson Farms, Inc. (SAFM - Free Report) currently sports a Zacks Rank #1 (Strong Buy). Over the last 60 days, the Zacks Consensus Estimate for the stock has been revised upward by 10.8% for fiscal 2016 and 59.1% for fiscal 2017.
Tyson Foods, Inc. (TSN - Free Report) presently carries a Zacks Rank #1. Over the last 60 days, the Zacks Consensus Estimate for the stock has been revised upward by 3.9% for fiscal 2016 and 9.3% for fiscal 2017.
Fresh Del Monte Produce Inc. (FDP - Free Report) currently holds a Zacks Rank #1. Over the last 60 days, the Zacks Consensus Estimate for the stock has increased by 15% for 2016 and 18.4% for 2017. You can see the complete list of today’s Zacks #1 Rank stocks here.
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