Sanderson Farms Downgraded to Neutral at Ned Davis Research (SAFM)
Sanderson Farms (NASDAQ:SAFM) was downgraded by analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Stock Ratings Network.com reports.
Sanderson Farms (NASDAQ:SAFM) traded down 0.58% during mid-day trading on Monday, hitting $64.998. 25,690 shares of the company’s stock traded hands. Sanderson Farms has a 52 week low of $43.04 and a 52 week high of $75.53. The stock has a 50-day moving average of $68.15 and a 200-day moving average of $65.11. The company has a market cap of $1.496 billion and a P/E ratio of 15.88.
Sanderson Farms (NASDAQ:SAFM) last released its earnings data on Tuesday, August 27th. The company reported $2.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.62 by $0.33. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $722.45 million. During the same quarter last year, the company posted $1.25 earnings per share. Sanderson Farms’s revenue was up 18.2% compared to the same quarter last year. On average, analysts predict that Sanderson Farms will post $6.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, September 27th. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.17.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Sanderson Farms (NASDAQ:SAFM) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 31st. They now have a $76.60 price target on the stock. Analysts at BMO Capital Markets raised their price target on shares of Sanderson Farms (NASDAQ:SAFM) from $60.00 to $69.00 in a research note to investors on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $71.40.
In other Sanderson Farms news, Director Phil Livingston sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $65.59, for a total value of $131,180.00. Following the transaction, the director now directly owns 15,053 shares in the company, valued at approximately $987,326. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Sanderson Farms, Inc is a poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products.
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