Analysts Anticipate Sanderson Farms, Inc. (NASDAQ:SAFM) to Post $3.49 Earnings Per Share
Brokerages expect that Sanderson Farms, Inc. (NASDAQ:SAFM) will post earnings per share of $3.49 for the current quarter, according to Zacks. Two analysts have made estimates for Sanderson Farms’ earnings, with estimates ranging from $3.14 to $3.83. Sanderson Farms posted earnings of $2.42 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 44.2%. The firm is scheduled to announce its next earnings results on Thursday, August 24th.
On average, analysts expect that Sanderson Farms will report full year earnings of $10.16 per share for the current year, with EPS estimates ranging from $9.00 to $11.31. For the next fiscal year, analysts expect that the company will post earnings of $8.14 per share, with EPS estimates ranging from $5.89 to $10.39. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The business had revenue of $802 million for the quarter, compared to analysts’ expectations of $769.47 million. During the same quarter last year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year.
A number of brokerages have issued reports on SAFM. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective for the company in a report on Wednesday, July 5th. BidaskClub cut Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective on shares of Sanderson Farms in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “sell” rating and set a $85.00 price objective on shares of Sanderson Farms in a report on Friday, June 9th. Finally, Mizuho began coverage on Sanderson Farms in a report on Wednesday, June 7th. They issued a “buy” rating and a $142.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Sanderson Farms has an average rating of “Buy” and an average target price of $118.89.
In related news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the sale, the director now directly owns 9,673 shares in the company, valued at $1,175,269.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the sale, the director now owns 13,072 shares of the company’s stock, valued at $1,538,443.68. The disclosure for this sale can be found here. 5.66% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Sanderson Farms during the first quarter worth approximately $179,000. Affinity Investment Advisors LLC purchased a new stake in shares of Sanderson Farms during the first quarter worth approximately $209,000. Everence Capital Management Inc. purchased a new stake in shares of Sanderson Farms during the first quarter worth approximately $210,000. Parkwood LLC purchased a new stake in shares of Sanderson Farms during the first quarter worth approximately $226,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock worth $229,000 after buying an additional 60 shares during the last quarter.
Sanderson Farms (NASDAQ SAFM) traded up 0.82% during mid-day trading on Wednesday, hitting $120.41. 22,270 shares of the company were exchanged. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 12.36 and a beta of 0.59. The stock’s 50 day moving average is $120.65 and its 200-day moving average is $106.24. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $129.50.
About Sanderson Farms
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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