Hershey shares closed up 1.38% at $179.11, outperforming the S&P 500 which slipped 0.05%. The chocolate maker is set to report earnings with analysts projecting earnings per share of $1.46, a 20.66% increase from the same quarter last year, on revenue of $2.66 billion. For the full year, the Zacks Consensus Estimate forecasts earnings of $8.45 per share and revenue of $12.29 billion, representing year-over-year growth of 33.91% and 5.09% respectively. Hershey currently carries a Zacks Rank of 3, or Hold, and trades at a forward price-to-earnings ratio of 20.92, a premium to the food-confectionery industry average of 19.81.
Hershey CoArticle reports a modest share price rise with no specific company news; earnings estimates are mentioned but not yet released.