Hormel Foods Corporation HRL is set to release earnings results for its third quarter, after the closing bell on Wednesday, Sept. 4.
Hormel Foods' Q3 results are likely to reflect high SG&A costs. The International unit is likely to have been under pressure, while the Foodservice unit looks good.
HRL, SWBI, and BUD exhibit bullish setups. Elliott Wave Theory with Fibonacci Pinball is used to project price movements and offer structured trading scenarios. HRL, SWBI, and BUD charts show bullish formations, with specific risk levels and targets identified.
Besides Wall Street's top -and-bottom-line estimates for Hormel (HRL), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended July 2024.
We examine Hormel Foods' dividend profile through different lenses and find that it is one of the more well-rounded dividend options in the packaged food space. HRL's modernisation and transformation initiatives are expected to drive meaningful progress on the operating leverage front through FY26. The forward P/E multiple looks cheap relative to historical averages, and the stock could also work as a useful hedge, given its low beta.
Hormel (HRL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
As we navigate through the third quarter of 2024, the market is emerging from a period of significant gains. Over the past few months, a bullish rally has propelled tech stocks to new heights, leaving dividend stocks in the shadows.
Income investors should focus on stocks that pay solid yields, but also those that have sustainable payouts and strong business models. Dividend kings are an excellent place to look for stocks with sustainable dividends.
Hormel Foods (HRL) is capitalizing on the increasing demand for Foodservice products. However, rising selling, general and administrative (SG&A) expenses are a deterrent.
Hormel Foods Corporation released quarterly results, financial performance analysis, and near-/mid-term expectations. Stock price underperformed market, driven by declining volumes, net sales, operating income, and EPS. Retail segment struggles, Foodservice segment performs well, International segment shows decline. Limited upside potential.
Consumer staples companies tend to be more stable, offering products that consumers buy frequently. Dividend King Hormel Foods is facing a number of headwinds, but it's soldiering on.
It is better to clear out stocks with empty potential to make room for companies that have proven their worth in 2024. While these three stocks have upsides, there is doubt about their continued performance and whether or not their potential outweighs their current challenges and valuations.