Hershey (HSY) closed the latest trading day at $182.85, indicating a +0.88% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.

Shares of the chocolate bar and candy maker have depreciated by 6.26% over the course of the past month, underperforming the Consumer Staples sector's loss of 2.6% and the S&P 500's gain of 2%.

The investment community will be paying close attention to the earnings performance of Hershey in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. In that report, analysts expect Hershey to post earnings of $2.60 per share. This would mark no growth from the year-ago period. Alongside, our most recent consensus estimate is anticipating revenue of $3.09 billion, indicating a 2.08% upward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.42 per share and revenue of $11.29 billion, indicating changes of -1.77% and +1.15%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Hershey should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.76% downward. Right now, Hershey possesses a Zacks Rank of #4 (Sell).

Investors should also note Hershey's current valuation metrics, including its Forward P/E ratio of 19.24. This valuation marks a premium compared to its industry's average Forward P/E of 18.36.

It's also important to note that HSY currently trades at a PEG ratio of 4.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. HSY's industry had an average PEG ratio of 3.16 as of yesterday's close.