Hershey Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

The Hershey Company HSY is set to release earnings results for its first quarter before the opening bell on May 3, 2024.

Analysts expect the Hershey, Pennsylvania-based company to report quarterly earnings at $2.76 per share, down from $2.96 per share in the year-ago period. Hershey is projected to report quarterly revenue of $3.11 billion, compared to $2.99 billion in the year-earlier quarter, according to data from Benzinga Pro.

On Feb. 8, Hershey reported mixed fourth-quarter financial results and raised its quarterly dividend.

Hershey shares rose 1.1% to close at $195.88 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $205 to $200 on April 17. This analyst has an accuracy rate of 64%.
• Piper Sandler analyst Michael Lavery maintained a Neutral rating and slashed the price target from $200 to $179 on April 15. This analyst has an accuracy rate of 71%.
• Morgan Stanley analyst Pamela Kaufman downgraded the stock from Equal-Weight to Underweight and cut the price target from $191 to $183 on Feb. 12. This analyst has an accuracy rate of 66%.
• Barclays analyst Lauren Lieberman maintained an Equal-Weight rating and boosted the price target from $200 to $210 on Feb. 12. This analyst has an accuracy rate of 60%.
• JP Morgan analyst Ken Goldman maintained a Neutral rating and increased the price target from $185 to $193 on Feb. 9. This analyst has an accuracy rate of 80%.

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