Sanderson Farms, Inc. (SAFM) Expected to Post Quarterly Sales of $872.36 Million
Analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to report $872.36 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Sanderson Farms’ earnings, with the lowest sales estimate coming in at $853.70 million and the highest estimate coming in at $891.02 million. Sanderson Farms reported sales of $727.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 24th.
On average, analysts expect that Sanderson Farms will report full year sales of $872.36 million for the current fiscal year, with estimates ranging from $3.18 billion to $3.29 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.43 billion per share. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results 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. The company had revenue of $802 million for the quarter, compared to the consensus estimate of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. Sanderson Farms’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 earnings per share.
SAFM has been the topic of a number of research analyst reports. KeyCorp raised shares of Sanderson Farms from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research report on Monday, March 27th. Sidoti downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research report on Friday, April 7th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “hold” rating and set a $105.00 price objective on shares of Sanderson Farms in a research report on Wednesday, April 12th. Pacific Crest reaffirmed an “overweight” rating and set a $125.00 price objective (up from $120.00) on shares of Sanderson Farms in a research report on Sunday, April 23rd. Finally, Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective on the stock in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $118.89.
In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction that occurred on Thursday, June 1st. The shares were 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 directly owns 13,072 shares in the company, valued at $1,538,443.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total transaction of $60,750.00. Following the completion of the sale, the director now owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The disclosure for this sale can be found here. 5.66% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Sanderson Farms by 38,073.7% in the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock worth $280,451,000 after buying an additional 2,693,713 shares during the period. Vanguard Group Inc. boosted its stake in Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the period. Dimensional Fund Advisors LP boosted its stake in Sanderson Farms by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock worth $142,725,000 after buying an additional 411,406 shares during the period. LSV Asset Management boosted its stake in Sanderson Farms by 15.0% in the first quarter. LSV Asset Management now owns 1,077,121 shares of the company’s stock worth $111,848,000 after buying an additional 140,492 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Sanderson Farms by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,011,000 shares of the company’s stock worth $104,982,000 after buying an additional 44,983 shares during the period.
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Sanderson Farms (NASDAQ:SAFM) traded up 0.87% during trading on Friday, reaching $118.76. 187,618 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 12.19 and a beta of 0.59. Sanderson Farms has a 52 week low of $74.07 and a 52 week high of $129.50. The company’s 50 day moving average price is $120.68 and its 200-day moving average price is $106.42.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, July 28th. Sanderson Farms’s dividend payout ratio (DPR) is presently 9.86%.
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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