Dj Hormel Foods Corp. Stock Rises Thursday, Outperforms Market

Local Bounti Corporation (LOCL) came out with a quarterly loss of $4.01 per share versus the Zacks Consensus Estimate of a loss of $2.78. This compares to loss of $3.02 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -44.24%. A quarter ago, it was expected that this company would post a loss of $3.19 per share when it actually produced a loss of $3, delivering a surprise of 5.96%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Local Bounti, which belongs to the Zacks Agriculture - Operations industry, posted revenues of $10.24 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 21.22%. This compares to year-ago revenues of $6.81 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Local Bounti shares have added about 12.9% since the beginning of the year versus the S&P 500's gain of 25.5%.

What's Next for Local Bounti?

While Local Bounti has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Local Bounti: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$2.57 on $21.2 million in revenues for the coming quarter and -$11.24 on $52 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Agriculture - Operations is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the broader Zacks Consumer Staples sector, Hormel Foods (HRL), is yet to report results for the quarter ended October 2024. The results are expected to be released on December 4.

This maker of Spam canned ham, Dinty Moore stew and other foods is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +2.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Hormel Foods' revenues are expected to be $3.14 billion, down 1.9% from the year-ago quarter.

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Tyson Foods (TSN) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 43.75%. A quarter ago, it was expected that this meat producer would post earnings of $0.61 per share when it actually produced earnings of $0.87, delivering a surprise of 42.62%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Tyson, which belongs to the Zacks Food - Meat Products industry, posted revenues of $13.57 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.79%. This compares to year-ago revenues of $13.35 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Tyson shares have added about 9.4% since the beginning of the year versus the S&P 500's gain of 25.8%.

What's Next for Tyson?

While Tyson has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Tyson: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.78 on $13.56 billion in revenues for the coming quarter and $3.30 on $54.12 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Hormel Foods (HRL), another stock in the same industry, has yet to report results for the quarter ended October 2024. The results are expected to be released on December 4.

This maker of Spam canned ham, Dinty Moore stew and other foods is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +2.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Hormel Foods' revenues are expected to be $3.14 billion, down 1.9% from the year-ago quarter.

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Beyond Meat (BYND) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.44. This compares to loss of $1.09 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 6.82%. A quarter ago, it was expected that this plant-based meat company would post a loss of $0.46 per share when it actually produced a loss of $0.53, delivering a surprise of -15.22%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Beyond Meat, which belongs to the Zacks Food - Meat Products industry, posted revenues of $81.01 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.53%. This compares to year-ago revenues of $75.31 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Beyond Meat shares have lost about 28.3% since the beginning of the year versus the S&P 500's gain of 21.2%.

What's Next for Beyond Meat?

While Beyond Meat has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Beyond Meat: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.35 on $79.13 million in revenues for the coming quarter and -$2.04 on $330.27 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Food - Meat Products is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Hormel Foods (HRL), is yet to report results for the quarter ended October 2024.

This maker of Spam canned ham, Dinty Moore stew and other foods is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of +2.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Hormel Foods' revenues are expected to be $3.14 billion, down 1.9% from the year-ago quarter.

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