Candy maker The Hershey Company (HSY) on Thursday posted in-line third quarter earnings results and backed its previously-announced full-year sales outlook.
The Hersey, PA-based company reported third quarter net income of $196.7 million, or 86 cents per share, up from $180.17 million, or 78 cents per share, in the year-ago period. Excluding one-time gains, adjusted profit was 84 cents per share.
Net sales rose 4.5% from last year to $1.62 billion.
On average, Wall Street analysts expected a matching profit of 84 cents per share, on matching revenue of $1.62 billion.
Looking ahead, the company said it’s still targeting full-year EPS growth of 3% to 5%, with sales rising 6% to 8% from last year.
Hershey shares were unchanged in premarket trading Thursday.
The Bottom Line
Shares of Hershey (HSY) have a 2.30% dividend yield, based on last night’s closing stock price of $59.88. The stock has technical support in the $54-$56 price area. The stock is trading near all-time highs of $63-$64 a share.
The Hershey Company (HSY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here