Benzinga -
- Hershey's has consistently exceeded earnings expectations and experienced double-digit revenue growth rates over the past five years.
- Investors await Hershey's earnings report on April 27th, hoping for a fifth consecutive quarter of positive results.
- Hershey's revenue reached $2.6 billion in the fourth quarter of 2022
- The stock's price has risen 13% since January 2023
Hershey Co's (NYSE: HSY) savvy business strategy has allowed them to soar above expectations, exceeding estimated earnings of $1.78 per share in February by a full 24 cents!
Over the last four quarters, their success streak hasn't slowed down either, and over five years, they've seen double-digit growth rates in revenue. Clearly, this company knows the recipe for sweet success!
With the upcoming earnings report due on April 27th, investors hope that history will repeat itself and they'll get to witness a fifth consecutive quarter of positive results. At $2.66 per share estimated for this period, solid numbers could potentially push prices into uncharted territories!
It was a successful fourth quarter for Hershey, with revenue increasing to over $2.6 billion, an impressive 13% jump from the same period the previous year!
The growth of the stock has had an impressive climb over the past couple of years. 2020 offered a slight hiccup in the form of a 1.66% decrease, only to be followed by growths of 26.42% in 2021 and 20.13% in 2022.
This year is no different. Since January, price has been on an upward trajectory rising 13%, leaving further gains very much possible for many savvy traders!
Looking at the charts for Hershey, the technicals indicate that a strong trend is in play. Price is above and bouncing along the 20 simple moving average.
Consistently trending above this indicator confirms the strong linear trend. The average volume has been around 1 million and price has surpassed $250.
With no previous resistance levels in the way, the trend should continue to be smooth up to the next level of resistance, the $300 psychological level.
This could be the level that investors deem the stock price too expensive and cause mass selling. Selling at this point will not signify the end of the trend.
A correction could unfold before the buyers force price back up to resume the trend. It will be crucial to analyze price if $300 is reached.
Overall, this stock looks strong and healthy and handing out good profit to investors and more so to investors that strategically compound along the way.
After the closing bell on Monday, April 24, the stock closed at $261.00, trading up by 0.06%.
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