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H.J. Heinz Co. (HNZ), one of the world's largest food companies, is scheduled to discuss its fiscal second-quarter 2010 financial results in a conference call Tuesday, November 24, at 8:30 AM ET, hosted by CEO William R. Johnson. You can see the accompanying slides on the company's website.
During the three months that ended in October, Heinz partnered with the World Food Program and also declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect the Pittsburgh-based company to report that earnings for the period fell 19.5% from a year ago to $0.70 per share. But revenue for the quarter is expected to total $2.6 billion, about the same as last year.
Looking ahead to the full fiscal year, analysts so far expect to see earnings of $2.75 (-5.2%) on $10.4 billion (+2.9%) in revenue. Heinz has topped analysts' earnings expectations in the past five quarters, by as much as 11 cents per share.
The long-term EPS growth forecast is 6.8%, which is a bit better than the industry average. The earnings multiple is 15x, and the First Call consensus recommendation remains to buy HNZ, with a mean price target of $42.41. Investopedia expects an upside surprise for this quarter.
Shares have climbed more than 10% in the past three months and are trading near the 52-week high.
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