Hormel Foods Sees FY24 Adj EPS Of $1.51 - $1.65 Vs. $1.68 Est.
Portfolio Pulse from Benzinga Newsdesk
Hormel Foods has provided guidance for its FY24 adjusted earnings per share (EPS) to be in the range of $1.51 to $1.65, which is below the estimated $1.68.
November 29, 2023 | 11:36 am
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Hormel Foods' projected adjusted EPS for FY24 is lower than analysts' expectations, which could lead to negative investor sentiment and a potential decrease in stock price in the short term.
Earnings guidance that falls short of analyst estimates typically results in negative investor sentiment, as it suggests potential challenges in the company's performance or market conditions. This can often lead to a decrease in stock price as investors adjust their expectations.
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