Brokerages predict that Hershey Co (NYSE:HSY) will post earnings of $1.56 per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Hershey’s earnings, with the lowest EPS estimate coming in at $1.50 and the highest estimate coming in at $1.60. Hershey posted earnings of $1.33 per share during the same quarter last year, which suggests a positive year over year growth rate of 17.3%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Hershey will report full-year earnings of $5.37 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.39. For the next fiscal year, analysts anticipate that the business will report earnings of $5.64 per share, with EPS estimates ranging from $5.50 to $5.81. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Hershey.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 26th. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.04. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year.
A number of analysts have commented on the company. Morgan Stanley lifted their price target on Hershey from $93.00 to $98.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Piper Jaffray Companies lifted their price target on Hershey from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Wednesday, June 27th. Credit Suisse Group set a $85.00 price target on Hershey and gave the stock a “sell” rating in a research report on Wednesday, August 29th. Finally, ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Hershey has a consensus rating of “Hold” and an average target price of $103.39.
In other Hershey news, SVP Kevin R. Walling sold 30,835 shares of Hershey stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the completion of the transaction, the senior vice president now owns 57,611 shares in the company, valued at approximately $5,829,080.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patricia A. Little sold 21,622 shares of Hershey stock in a transaction dated Monday, October 8th. The shares were sold at an average price of $106.00, for a total value of $2,291,932.00. Following the transaction, the chief financial officer now owns 58,708 shares of the company’s stock, valued at approximately $6,223,048. The disclosure for this sale can be found here. Insiders have sold a total of 74,546 shares of company stock valued at $7,668,954 in the last quarter. Company insiders own 0.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FTB Advisors Inc. increased its stake in shares of Hershey by 108.4% in the 2nd quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock valued at $107,000 after purchasing an additional 607 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Hershey during the 2nd quarter worth approximately $121,000. Fort L.P. purchased a new stake in Hershey during the 2nd quarter worth approximately $123,000. Flagship Harbor Advisors LLC purchased a new stake in Hershey during the 2nd quarter worth approximately $130,000. Finally, grace capital purchased a new stake in Hershey during the 2nd quarter worth approximately $130,000. Institutional investors and hedge funds own 52.70% of the company’s stock.
HSY traded up $0.54 on Tuesday, reaching $105.50. 719,100 shares of the stock were exchanged, compared to its average volume of 1,196,758. Hershey has a fifty-two week low of $89.10 and a fifty-two week high of $115.82. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.58 and a current ratio of 0.94. The stock has a market cap of $21.34 billion, a P/E ratio of 22.16, a P/E/G ratio of 2.17 and a beta of 0.32.
Hershey Company Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
See Also: Hedge Funds
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