Heinz Sets the Table for Higher Expectations

Equities Editors Desk |


H. J. Heinz CompanyFood conglomerate H.J. Heinz Co. (HNZ) is schedule to release first quarter earnings on Wednesday, but stoked excitement from investors at its annual shareholders meeting. CEO William Johnson said that the company expects to report strong earnings with net income growing 10 percent and organic sales increasing 5 percent for Q1. The news was enough to help push Heinz's stock price up to a new 52-week high, up as much as 3.2 percent on the day to $58.31.

If accurate, Johnson's numbers would be a nice surprise to analysts, who are expecting a slight dip in revenue and only a 2.6 percent increase in net income for the quarter. Heinz said the results are due to growth in emerging markets, improved productivity, higher margins and a favorable tax rate.

The company also maintained its quarterly dividend of $0.515 per share, which represents an annual yield of about 3.7 percent based on where shares are currently trading.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
NP Neenah Paper Inc. 78.25 0.45 0.58 5,588 Trade

Comments

Emerging Growth

Winston Gold Mining Corp.

Winston Gold Mining Corp is a mineral exploration and development company. The Company is engaged in acquiring, exploring, developing, and operating mining properties.

Private Markets

California Green Tree Development

California Green Tree Development LLC (CGTD) is a for-profit LLC that plans on using California’s booming market of legal cannabis products for medical purposes. As an unprecedented resource, Cannabis has…

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…