Sanderson Farms Earns Buy Rating from Analysts at Sidoti (SAFM)
Investment analysts at Sidoti assumed coverage on shares of Sanderson Farms (NASDAQ:SAFM) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Sanderson Farms (NASDAQ:SAFM) traded up 0.89% on Tuesday, hitting $95.09. The stock had a trading volume of 151,927 shares. Sanderson Farms has a 52-week low of $59.77 and a 52-week high of $103.90. The stock’s 50-day moving average is $97.41 and its 200-day moving average is $85.72. The company has a market cap of $2.194 billion and a price-to-earnings ratio of 11.26.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, May 29th. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.68 by $0.53. The company had revenue of $660.70 million for the quarter, compared to the consensus estimate of $620.99 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Sanderson Farms will post $10.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 19th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, August 1st.
A number of other analysts have also recently weighed in on SAFM. Analysts at Credit Agricole downgraded shares of Sanderson Farms from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $106.00 price target on the stock, up previously from $98.00. Analysts at JPMorgan Chase & Co. raised their price target on shares of Sanderson Farms from $81.00 to $82.00 in a research note on Friday, May 30th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Sanderson Farms has a consensus rating of “Hold” and a consensus price target of $81.60.
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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