Hershey Slips 1.18% as Investors Look Ahead to Earnings

Hershey fell 1.18% to $164.41 in its latest trading session, a steeper decline than major U.S. indexes. The S&P 500 lost 0.77%, the Dow fell 0.67% and the Nasdaq dropped 0.92%.

The shares have declined 7.08% over the past month, according to the article. That lagged the Consumer Staples sector, which fell 4.83%, while the S&P 500 gained 0.96%.

Investors are looking ahead to the company’s next earnings report. Zacks consensus estimates call for quarterly earnings of $2.11 per share, up 62.31% from the same quarter a year earlier. Revenue is forecast at $3.25 billion, a 2.3% increase.

For the full year, Zacks estimates earnings of $8.49 per share and revenue of $12.29 billion. Those figures would be increases of 34.55% and 5.12%, respectively, from the prior year.

Zacks said its consensus estimate for earnings per share had not changed over the past month. The article also put Hershey’s forward price-to-earnings ratio at 19.6, compared with an industry average of 18.96.