Wall Street brokerages forecast that Hershey Co (NYSE:HSY) will post earnings per share of $1.11 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Hershey’s earnings, with the highest EPS estimate coming in at $1.13 and the lowest estimate coming in at $1.09. Hershey reported earnings per share of $1.09 in the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The company is expected to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that Hershey will report full-year earnings of $5.33 per share for the current year, with EPS estimates ranging from $5.30 to $5.35. For the next year, analysts expect that the business will post earnings of $5.59 per share, with EPS estimates ranging from $5.40 to $5.70. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Hershey.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, April 26th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.01. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.94 billion. Hershey had a net margin of 13.25% and a return on equity of 113.86%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 earnings per share.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine cut shares of Hershey from a “hold” rating to a “sell” rating in a report on Thursday, April 19th. Credit Suisse Group set a $94.00 target price on shares of Hershey and gave the company a “hold” rating in a report on Monday, April 23rd. Societe Generale cut shares of Hershey from a “hold” rating to a “sell” rating and reduced their target price for the company from $93.29 to $85.00 in a report on Friday, April 27th. Finally, Piper Jaffray Companies assumed coverage on shares of Hershey in a report on Thursday, April 12th. They issued a “neutral” rating and a $99.00 target price on the stock. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $102.65.
NYSE:HSY traded up $2.10 during mid-day trading on Thursday, hitting $94.87. The stock had a trading volume of 35,201 shares, compared to its average volume of 1,278,698. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.15 and a beta of 0.34. Hershey has a twelve month low of $89.10 and a twelve month high of $115.82. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 2.08.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 25th were given a dividend of $0.656 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $2.62 annualized dividend and a dividend yield of 2.77%. Hershey’s payout ratio is currently 55.04%.
In other Hershey news, Director David L. Shedlarz sold 5,450 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $91.25, for a total transaction of $497,312.50. Following the sale, the director now directly owns 11,723 shares in the company, valued at approximately $1,069,723.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in shares of Hershey by 5.0% during the 1st quarter. Suntrust Banks Inc. now owns 29,826 shares of the company’s stock worth $2,950,000 after buying an additional 1,420 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Hershey by 456.7% during the 1st quarter. Allianz Asset Management GmbH now owns 142,689 shares of the company’s stock worth $14,120,000 after buying an additional 117,056 shares during the last quarter. Amalgamated Bank raised its stake in shares of Hershey by 9.7% during the 1st quarter. Amalgamated Bank now owns 19,874 shares of the company’s stock worth $1,967,000 after buying an additional 1,751 shares during the last quarter. Tikehau Investment Management acquired a new position in shares of Hershey during the 1st quarter worth $9,828,000. Finally, CIBC World Markets Inc. raised its stake in shares of Hershey by 548.4% during the 1st quarter. CIBC World Markets Inc. now owns 14,129 shares of the company’s stock worth $1,398,000 after buying an additional 11,950 shares during the last quarter. 54.01% of the stock is owned by institutional investors and hedge funds.
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.
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