H.J. Heinz Company First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component H.J. Heinz Company (NYSE:HNZ) will unveil its latest earnings on Tuesday, August 23, 2011. HJ Heinz Co. manufactures food products, including ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products.

H.J. Heinz Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 76 cents per share, a rise of 1.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 80 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 76 cents during the last month. For the year, analysts are projecting net income of $3.35 per share, a rise of 8.8% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 71 cents per share versus a mean estimate of net income of 72 cents per share. In third quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $2.78 billion in revenue this quarter, a rise of 12.1% from the year ago quarter. Analysts are forecasting total revenue of $11.68 billion for the year, a rise of 9.1% from last year’s revenue of $10.71 billion.

Analyst Ratings: Analysts are bullish on H.J. Heinz Company as eight analysts rate it as a buy, none rate it as a sell and eight rate it as a hold.

Competitors to Watch: Ralcorp Holdings, Inc. (NYSE:RAH), Smart Balance, Inc. (NASDAQ:SMBL), TreeHouse Foods Inc. (NYSE:THS), The Hain Celestial Group, Inc. (NASDAQ:HAIN), Campbell Soup Company (NYSE:CPB), ConAgra Foods, Inc. (NYSE:CAG), Kraft Foods Inc. (NYSE:KFT), General Mills, Inc. (NYSE:GIS), Unilever plc (NYSE:UL), and Unilever N.V. (NYSE:UN).

Stock Price Performance: During August 11, 2011 to August 17, 2011, the stock price had risen $2.03 (4%) from $50.28 to $52.31. The stock price saw one of its best stretches over the last year between March 30, 2011 and April 6, 2011 when shares rose for six-straight days, rising 1.1% (+55 cents) over that span. It saw one of its worst periods between January 24, 2011 and February 2, 2011 when shares fell for eight-straight days, falling 4% (-$1.93) over that span. Shares are up $3.74 (+7.7%) year to date.

(Source: Xignite Financials)

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.