Why Hormel Foods Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Hormel Foods Corporation (HRL) reported Q2 earnings per share of 40 cents, down from 48 cents YoY, and quarterly sales of $2.98 billion, below the analyst consensus estimate of $3.05 billion. The company reaffirmed its fiscal year 2023 guidance, and Barclays analyst Benjamin Theurer maintained an Equal-Weight rating, lowering the price target from $45 to $42.
June 01, 2023 | 7:51 pm
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NEUTRAL IMPACT
Hormel Foods reported lower Q2 earnings and sales, but reaffirmed its FY2023 guidance. Barclays maintained an Equal-Weight rating and lowered the price target from $45 to $42.
Hormel Foods reported lower earnings and sales for Q2, which could negatively impact the stock. However, the company reaffirmed its FY2023 guidance, indicating confidence in future performance. Barclays maintained an Equal-Weight rating, but lowered the price target, suggesting a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100