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Minnesota, Austin-based Hormel Foods Corporation (HRL - Free Report) is a prominent meat products firm, conducting trade in the global consumer goods sector. The company sells superior-branded high-quality convenient, nutritious and flavorful edible products to its global customers. HRL shares high brand value in the market but is also exposed to certain risks of external market uncertainties.
Currently, HRL has a Zacks Rank #2 (Buy) but that could change following its first-quarter fiscal 2017 (ended Jan 31, 2017) earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL miss on earnings. Adjusted earnings per share came in at 44 cents per share, lower than the Zacks Consensus Estimate of 46 cents.
Revenue: Revenues of $2,280.2 million came below the Zacks Consensus Estimate of $2,287 million.
Key Stats: HRL anticipates earnings within the range of $1.65 to $1.71 per share for full-year fiscal 2017, as against the previously stated guidance of $1.68-$1.74 per share. The forecast is revised downwards on grounds of the dismal conditions prevailing in the turkey industry. However, the company is poised to grow on the back of its balanced business model.
Stock Price: As of Feb 22, 2017, HRL’s closed the trading session at $37.30 per share.
Shares price did not show any movement in the pre-market trading session.
Check back later for our full write up on this HRL earnings report later!
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Hormel (HRL) Misses on Q1 Earnings & Revenues
Minnesota, Austin-based Hormel Foods Corporation (HRL - Free Report) is a prominent meat products firm, conducting trade in the global consumer goods sector. The company sells superior-branded high-quality convenient, nutritious and flavorful edible products to its global customers. HRL shares high brand value in the market but is also exposed to certain risks of external market uncertainties.
Currently, HRL has a Zacks Rank #2 (Buy) but that could change following its first-quarter fiscal 2017 (ended Jan 31, 2017) earnings report which has just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: HRL miss on earnings. Adjusted earnings per share came in at 44 cents per share, lower than the Zacks Consensus Estimate of 46 cents.
Revenue: Revenues of $2,280.2 million came below the Zacks Consensus Estimate of $2,287 million.
Key Stats: HRL anticipates earnings within the range of $1.65 to $1.71 per share for full-year fiscal 2017, as against the previously stated guidance of $1.68-$1.74 per share. The forecast is revised downwards on grounds of the dismal conditions prevailing in the turkey industry. However, the company is poised to grow on the back of its balanced business model.
Stock Price: As of Feb 22, 2017, HRL’s closed the trading session at $37.30 per share.
Hormel Foods Corporation Price
Hormel Foods Corporation Price | Hormel Foods Corporation Quote
Shares price did not show any movement in the pre-market trading session.
Check back later for our full write up on this HRL earnings report later!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>