Hormel Foods Stock Forecast

Stock Price Forecast

The 5 analysts with 12-month price forecasts for Hormel Foods stock have an average target of 32.2, with a low estimate of 28 and a high estimate of 35. The average target predicts an increase of 5.40% from the current stock price of 30.55.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$28	$32.2	$33	$35
Change	-8.35%	+5.40%	+8.02%	+14.57%

* Price targets were last updated on May 31, 2024.

Analyst Ratings

The average analyst rating for Hormel Foods stock from 5 stock analysts is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jan '24	Feb '24	Mar '24	Apr '24	May '24	Jun '24
Strong Buy	0	0	0	0	0	0
Buy	0	0	0	0	0	0
Hold	6	7	6	6	4	4
Sell	1	0	1	1	0	0
Strong Sell	1	1	1	1	1	1
Total	8	8	8	8	5	5

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Thomas Palmer Citigroup	Citigroup	Hold Maintains $35 → $33	Hold	Maintains	$35 → $33	+8.02%	May 31, 2024
Ben Bienvenu Stephens & Co.	Stephens & Co.	Hold Reiterates $32	Hold	Reiterates	$32	+4.75%	May 31, 2024
Thomas Palmer JP Morgan	JP Morgan	Sell → Hold Upgrades $28 → $29	Sell → Hold	Upgrades	$28 → $29	-5.07%	May 31, 2024
Thomas Palmer JP Morgan	JP Morgan	Sell Maintains $27 → $28	Sell	Maintains	$27 → $28	-8.35%	Mar 1, 2024
Benjamin Theurer Barclays	Barclays	Hold Maintains $33 → $35	Hold	Maintains	$33 → $35	+14.57%	Mar 1, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

12.28B

from 12.11B

1.36%

from 12.11B

Revenue Next Year

12.52B

from 12.28B

1.96%

from 12.28B

EPS This Year

1.61

from 1.45

11.34%

from 1.45

EPS Next Year

1.72

from 1.61

6.37%

from 1.61

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	9.50B	9.61B	11.39B	12.46B	12.11B	12.28B	12.52B	12.77B	13.57B	13.91B
Revenue Growth	-0.51%	1.17%	18.50%	9.42%	-2.80%	1.36%	1.96%	2.04%	6.26%	2.54%
EPS	1.80	1.66	1.66	1.82	1.45	1.61	1.72	1.88	2.19	2.28
EPS Growth	-3.23%	-7.78%	-	9.64%	-20.33%	11.34%	6.37%	9.39%	16.67%	4.15%
Forward PE	-	-	-	-	-	18.92	17.79	16.26	13.94	13.38
No. Analysts	-	-	-	-	-	12	12	9	2	2

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	12.8B	13.2B	13.5B	14.1B	14.5B
Avg	12.3B	12.5B	12.8B	13.6B	13.9B
Low	11.9B	12.1B	12.3B	13.2B	13.5B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	6.0%	7.4%	7.5%	10.5%	6.6%
Avg	1.4%	2.0%	2.0%	6.3%	2.5%
Low	-2.1%	-1.8%	-2.1%	3.1%	-0.5%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.70	1.82	2.03	2.28	2.37
Avg	1.61	1.72	1.88	2.19	2.28
Low	1.56	1.64	1.76	2.13	2.21

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	17.3%	12.5%	18.0%	21.3%	8.3%
Avg	11.3%	6.4%	9.4%	16.7%	4.1%
Low	7.3%	1.8%	2.7%	13.2%	1.1%

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.