Hormel Foods Corp. (HRL) Jumped To A New High On Strong Q1 Earnings

17-Feb-2016 - USA

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) 

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