Wall Street brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to post earnings per share (EPS) of ($1.82) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sanderson Farms’ earnings. The lowest EPS estimate is ($2.52) and the highest is ($1.12). Sanderson Farms reported earnings per share of $0.60 in the same quarter last year, which would suggest a negative year-over-year growth rate of 403.3%. The firm is expected to issue its next earnings report before the market opens on Tuesday, February 26th.
On average, analysts expect that Sanderson Farms will report full-year earnings of $1.00 per share for the current financial year, with EPS estimates ranging from $0.50 to $1.50. For the next year, analysts forecast that the company will post earnings of $0.24 per share, with EPS estimates ranging from ($0.57) to $1.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Sanderson Farms.
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Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, December 20th. The company reported ($1.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.54). The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $787.31 million. Sanderson Farms had a return on equity of 2.10% and a net margin of 1.90%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.20 earnings per share.
SAFM has been the subject of several recent research reports. Jefferies Financial Group set a $77.00 price objective on Sanderson Farms and gave the stock a “sell” rating in a report on Friday, December 28th. ValuEngine cut Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Barclays dropped their price objective on Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, December 18th. BidaskClub raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 12th. Finally, Mizuho raised Sanderson Farms from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $101.00 to $130.00 in a report on Monday, January 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $100.44.
In other news, Director Jones Gail Pittman sold 300 shares of the business’s stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $97.01, for a total transaction of $29,103.00. Following the completion of the transaction, the director now directly owns 16,403 shares in the company, valued at approximately $1,591,255.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.55% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Commonwealth Bank of Australia acquired a new position in shares of Sanderson Farms in the 3rd quarter valued at approximately $682,000. Stone Ridge Asset Management LLC grew its position in shares of Sanderson Farms by 19.8% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 8,959 shares of the company’s stock valued at $926,000 after purchasing an additional 1,478 shares during the period. Hodges Capital Management Inc. grew its position in shares of Sanderson Farms by 50.0% in the 3rd quarter. Hodges Capital Management Inc. now owns 115,954 shares of the company’s stock valued at $11,986,000 after purchasing an additional 38,645 shares during the period. Teachers Advisors LLC grew its position in shares of Sanderson Farms by 3.3% in the 3rd quarter. Teachers Advisors LLC now owns 40,407 shares of the company’s stock valued at $4,177,000 after purchasing an additional 1,272 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Sanderson Farms by 9.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 381,553 shares of the company’s stock valued at $39,441,000 after purchasing an additional 34,105 shares during the period. Institutional investors own 98.08% of the company’s stock.
NASDAQ:SAFM traded up $0.64 on Friday, hitting $121.10. 303,062 shares of the stock were exchanged, compared to its average volume of 428,180. The stock has a market capitalization of $2.67 billion, a P/E ratio of 40.10 and a beta of 0.79. Sanderson Farms has a 52 week low of $93.98 and a 52 week high of $136.50.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 12th. Stockholders of record on Tuesday, January 29th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, January 28th. This represents a $1.28 annualized dividend and a dividend yield of 1.06%. Sanderson Farms’s payout ratio is currently 42.38%.
Sanderson Farms Company Profile
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.
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