Smithfield Foods Shares Climb 10.2% (SFD)

Shares of Smithfield Foods, Inc. SFD are currently up 10.2% at $19.50 per share during Thursday afternoon trading. Today's trading range for shares of Smithfield Foods, Inc has been between $18.69 and $19.61 per share. The consensus price target of analysts covering the company's stock is $20.30 per share. Volume of 4 million shares is already double the daily average volume of 2 million shares. Smithfield Foods, Inc. (SFD) released financial results early Thursday morning that beat Wall Street earnings estimates but missed revenue expectations. Smithfield Foods, Inc reported 2nd quarter adjusted earnings of 80 cents per share, on revenue of $3 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 56 cents per share, on revenue of $3.21 billion. President and chief executive officer C. Larry Pope said, "Again this quarter, we delivered solid packaged meats earnings that were within the normalized range, despite record high raw material costs. These stable earnings are the result of the Pork Group restructuring plan, which has allowed the company to continue to closely align higher production efficiencies, lower costs and a more coordinated sales and marketing focus," Read more from Benzinga's Company news.