Sanderson Farms (SAFM) Releases Quarterly Earnings Results, Misses Expectations By $0.52 EPS
Sanderson Farms (NASDAQ:SAFM) issued its quarterly earnings data on Tuesday. The company reported $3.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $3.82 by $0.52, Stock Ratings Network reports. The company had revenue of $768.40 million for the quarter, compared to the consensus estimate of $789.20 million.
Several analysts have recently commented on the stock. Analysts at Sidoti initiated coverage on shares of Sanderson Farms in a research note on Tuesday, August 19th. They set a “buy” rating on the stock. On the ratings front, 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. Finally, 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $81.60.
Sanderson Farms (NASDAQ:SAFM) opened at 95.12 on Tuesday. 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 $96.94 and its 200-day moving average is $86.63. The company has a market cap of $2.195 billion and a P/E ratio of 11.14.
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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