Hormel Foods Corporation (HRL)

Hormel Foods Stock Forecast

Stock Price Forecast

The 6 analysts with 12-month price forecasts for Hormel Foods stock have an average target of 32.67, with a low estimate of 28 and a high estimate of 37. The average target predicts an increase of 5.18% from the current stock price of 31.06.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$28	$32.67	$33	$37
Change	-9.85%	+5.18%	+6.25%	+19.12%

Analyst Ratings

The average analyst rating for Hormel Foods stock from 6 stock analysts is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	May '24	Jun '24	Jul '24	Aug '24	Sep '24	Oct '24
Strong Buy	0	0	0	1	1	1
Buy	0	0	0	0	0	0
Hold	4	4	4	3	3	4
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	1	1
Total	5	5	5	5	5	6

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Pooran Sharma Stephens & Co.	Stephens & Co.	Hold Initiates $31	Hold	Initiates	$31	-0.19%	Oct 3, 2024
Thomas Palmer Citigroup	Citigroup	Hold → Strong Buy Upgrades $33 → $37	Hold → Strong Buy	Upgrades	$33 → $37	+19.12%	Aug 13, 2024
Thomas Palmer Citigroup	Citigroup	Hold Maintains $35 → $33	Hold	Maintains	$35 → $33	+6.25%	May 31, 2024
Ben Bienvenu Stephens & Co.	Stephens & Co.	Hold Reiterates $32	Hold	Reiterates	$32	+3.03%	May 31, 2024
Thomas Palmer JP Morgan	JP Morgan	Sell → Hold Upgrades $28 → $29	Sell → Hold	Upgrades	$28 → $29	-6.63%	May 31, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

12.05B

Decreased by -0.49%

from 12.11B

Revenue Next Year

12.34B

Increased by 2.43%

from 12.05B

EPS This Year

1.61

Increased by 10.81%

from 1.45

EPS Next Year

1.72

Increased by 6.78%

from 1.61

Fiscal Year	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Oct 27, 2019	Oct 25, 2020	Oct 31, 2021	Oct 30, 2022	Oct 29, 2023	Oct 29, 2024	Oct 29, 2025	Oct 29, 2026
Revenue	9.50B	9.61B	11.39B	12.46B	12.11B	12.05B	12.34B	12.63B
Revenue Growth	-0.51%	1.17%	18.50%	9.42%	-2.80%	-0.49%	2.43%	2.34%
EPS	1.80	1.66	1.66	1.82	1.45	1.61	1.72	1.90
EPS Growth	-3.23%	-7.78%	-	9.64%	-20.33%	10.81%	6.78%	10.54%
Forward PE	-	-	-	-	-	19.33	18.10	16.38
No. Analysts	-	-	-	-	-	12	12	9

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	12.6B	13.0B	13.2B
Avg	12.1B	12.3B	12.6B
Low	11.6B	11.8B	12.2B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	3.6%	8.0%	6.8%
Avg	-0.5%	2.4%	2.3%
Low	-3.8%	-2.4%	-1.0%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.69	1.82	2.03
Avg	1.61	1.72	1.90
Low	1.54	1.62	1.76

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	16.5%	13.1%	18.1%
Avg	10.8%	6.8%	10.5%
Low	5.9%	0.6%	2.8%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.