We have issued an updated research report on the premium meat products company, Hormel Foods Corporation (HRL - Free Report) , on Nov 25, 2016.
Bright Growth Prospects
Strong consumers’ loyalty toward popular brands such as Skippy, Spam, Applegate deli meats and Hormel Bacon is expected to boost Hormel Foods’ sales in the quarters ahead. Also, the company’s productive marketing strategies are likely to tap wider market demand in the near term.
Hormel Foods anticipates accruing earnings within the range of $1.71–$1.77 in fiscal 2017, representing a 4–8% year-over-year increment in earnings. The company estimates to accrue higher earnings on the back of increased revenue and lower input prices.
Strategic moves undertaken by Hormel Foods for propelling commercial growth are likely to generate benefits moving ahead. For instance, inclusion of Justin’s brand within its business would boost the company’s Grocery Products’ sales.
The company also remains committed toward its shareholders and declared a 17% hike in its annual dividend on Nov 21, 2016.
Based on the above mentioned bullish aspects, the Zacks Consensus Estimate for the stock has been revised upward by 3.7% for fiscal 2017 in the last 60 days.
Zacks Rank and Other Stocks
Hormel Foods currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other well ranked stocks within the industry include Blue Buffalo Pet Products, Inc. (BUFF - Free Report) , Carriage Services Inc. (CSV - Free Report) and Dean Foods Company (DF - Free Report) .
Blue Buffalo Pet Products currently carries a Zacks Rank #2 and has an average positive earnings surprise of 10.40% for the four trailing quarters.
Carriage Services currently carries a Zacks Rank #2 and has an average positive earnings surprise of 0.74% for the last four quarters.
Dean Foods Company currently carries a Zacks Rank #2 and has an average positive earnings surprise of 5.44% for the trailing four quarters.
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