The Hershey Company to Post Q2 2024 Earnings of $1.46 Per Share, Zacks Research Forecasts (NYSE:HSY)

The Hershey Company (NYSE:HSYFree Report) – Analysts at Zacks Research dropped their Q2 2024 earnings estimates for Hershey in a report released on Thursday, May 23rd. Zacks Research analyst A. Mohta now anticipates that the company will earn $1.46 per share for the quarter, down from their prior forecast of $1.73. The consensus estimate for Hershey’s current full-year earnings is $9.60 per share. Zacks Research also issued estimates for Hershey’s Q1 2025 earnings at $2.87 EPS, Q2 2025 earnings at $1.78 EPS, Q3 2025 earnings at $2.87 EPS, Q4 2025 earnings at $2.09 EPS and Q1 2026 earnings at $3.25 EPS.

A number of other equities research analysts have also recently commented on the stock. Citigroup dropped their price objective on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company raised their price target on shares of Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Sanford C. Bernstein upgraded shares of Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Monday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, BNP Paribas lowered Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target for the company. in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $213.06.

Get Our Latest Stock Analysis on Hershey

Hershey Stock Down 2.0 %

Hershey stock opened at $197.00 on Monday. Hershey has a 52 week low of $178.82 and a 52 week high of $263.38. The firm has a market cap of $39.84 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 4.41 and a beta of 0.33. The business’s 50-day moving average price is $195.69 and its 200 day moving average price is $192.40. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSYGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $2.96 EPS.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.37 per share. The ex-dividend date is Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.78%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total value of $306,810.00. Following the transaction, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 4,500 shares of company stock valued at $882,405 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hershey

Several hedge funds and other institutional investors have recently made changes to their positions in HSY. Wealth Alliance grew its holdings in Hershey by 9.5% in the 4th quarter. Wealth Alliance now owns 1,137 shares of the company’s stock valued at $212,000 after buying an additional 99 shares in the last quarter. AJOVista LLC purchased a new position in Hershey during the fourth quarter worth about $153,000. Ironwood Investment Counsel LLC purchased a new position in Hershey during the fourth quarter worth about $2,332,000. Pittenger & Anderson Inc. boosted its holdings in Hershey by 1,263.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 15,105 shares of the company’s stock valued at $2,816,000 after purchasing an additional 13,997 shares during the last quarter. Finally, Reliant Investment Management LLC purchased a new stake in shares of Hershey in the 4th quarter valued at approximately $4,173,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Company Profile

(Get Free Report)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

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Earnings History and Estimates for Hershey (NYSE:HSY)

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