Zacks: Analysts Anticipate Sanderson Farms, Inc. (SAFM) Will Announce Earnings of $3.71 Per Share
Brokerages expect that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce earnings of $3.71 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sanderson Farms’ earnings. The highest EPS estimate is $3.83 and the lowest is $3.59. Sanderson Farms reported earnings per share of $2.42 in the same quarter last year, which suggests a positive year-over-year growth rate of 53.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, August 24th.
According to Zacks, analysts expect that Sanderson Farms will report full-year earnings of $11.17 per share for the current year, with EPS estimates ranging from $11.03 to $11.31. For the next year, analysts anticipate that the firm will report earnings of $8.32 per share, with EPS estimates ranging from $6.24 to $10.39. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.22. The business had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 earnings per share.
Several research analysts have commented on SAFM shares. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price for the company in a report on Wednesday, July 5th. BMO Capital Markets reiterated a “hold” rating and issued a $130.00 target price on shares of Sanderson Farms in a report on Tuesday, June 27th. Pacific Crest reiterated an “overweight” rating and issued a $125.00 target price (up from $120.00) on shares of Sanderson Farms in a report on Sunday, April 23rd. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Finally, Barclays PLC began coverage on shares of Sanderson Farms in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $125.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $119.44.
In other news, Director Dianne Mooney sold 1,103 shares of the 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 of the company’s stock, valued at $1,538,443.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phil K. Livingston sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was 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 directly 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 corporate insiders.
Several hedge funds have recently bought and sold shares of SAFM. Chicago Partners Investment Group LLC acquired a new position in shares of Sanderson Farms during the second quarter valued at $125,000. Strs Ohio raised its position in shares of Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Sanderson Farms during the first quarter valued at $179,000. Paragon Capital Management Ltd acquired a new position in shares of Sanderson Farms during the second quarter valued at $209,000. Finally, Affinity Investment Advisors LLC acquired a new position in shares of Sanderson Farms during the first quarter valued at $209,000.
Sanderson Farms (SAFM) traded down 0.75% during trading on Tuesday, hitting $135.54. 148,773 shares of the stock were exchanged. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $136.30. The stock’s 50-day moving average price is $121.29 and its 200-day moving average price is $108.28. The firm has a market cap of $3.08 billion, a PE ratio of 13.91 and a beta of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s dividend payout ratio (DPR) is 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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