Hormel Shows No Signs of a Turnaround
Hormel (HRL) is going through weakness as is Jennie-O Turkey division is hurting. This stock is down and out, with the profit picture continuing to erode.
Hormel (HRL) is going through weakness as is Jennie-O Turkey division is hurting. This stock is down and out, with the profit picture continuing to erode.
Hormel (HRL) just delivered a turkey of a qtr with -3% profit growth. The cause was is Jenny-O turkey division, which is dealing with too many turkeys.
Hormel (HRL) delivered just 2% profit growth last qtr as turkey prices in its Jenno-O division fell 60% year-over-year. And it looks like flat profit growth will linger.
Hormel (HRL) clocked in with 2016 profit growth of 24%. But in 2017 growth will be more normalized, or perhaps below normal due to HRL selling a couple brands.
Analysts predict Hormel (HRL) will grow profits just 2% next year and 2% the year after. If that’s the case HRL could be around $37 for a while.
Hormel (HRL) is 20% off its recent highs. Now that the stock’s down, is HRL a good buy? Let’s assess the situation.
Hormel (HRL) has been red hot as investors have flocked to safety. But a closer look at HRL’s charts reveal a pattern I am concerned with.
Shares of Blue Chip Hormel (HRL) are red-hot right now, but I’m cautious as the P/E of 26 is a little high.
Shares of Hormel (HRL) muscled to new highs on the back of good news from its new Muscle Milk division.