Analysts were expecting HJ Heinz Co. (HNZ) [Chart - News - Analysis] to report earnings of $0.70 for last quarter, but HNZ beat expectations with actual earnings of $0.76---6 cents above the consensus estimate. HNZ also issued earnings guidance for next quarter that is in line with current analyst expectations.

If you compare last quarter's earnings to the $0.87 the company made per share during the same quarter a year ago, you can see that HNZ’s earnings are down this year.

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Also, if you compare HNZ's 7.03% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 7.20% for the Food - Major Diversified industry as a whole during that same time frame, you can see that analysts expect HNZ to underperform the industry in the future---which is a bad sign for the stock.

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Drilling down a little deeper into the Food - Major Diversified industry, you can see how analysts believe HNZ will stack up against some of the other stocks in the industry, like AFC Enterprises Inc. (AFCE) [Chart - News - Analysis] and Kraft Foods Inc. (KFT) [Chart - News - Analysis], in the future. Analysts believe AFCE's earnings are going to grow at a rate of 10.00% while KFT's earnings are going to grow at a rate of 7.24%.

Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.

- Earnings Season is Here - Find Out How to Trade It

- Using Options to Trade Earnings

- Understanding Stock Analyst Research and Recommendations

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