Hormel Foods Corp. (HRL) Jumped To A New High On Strong Q1 Earnings
Hormel Foods Corp. (HRL) reported first quarter adjusted EPS of $0.43 Tuesday morning, up from $0.35 in the previous year. Analysts expected EPS of $0.37. The company also increased its full year 2016 EPS forecast to between $1.50 and $1.56, from prior expectations of $1.43 to $1.48. The consensus estimate is for EPS of $1.47.
Hormel Foods gapped up sharply at the open Tuesday, but traded in a range for the majority of the session. Shares finished with a gain of 2.94 at $44.44 on the highest volume of the year. The stock broke out of a 2-week trading range and set a new high for the year. (dpa)
Most read news
Organizations
Other news from the department business & finance

Get the food & beverage industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.