Equities research analysts forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce sales of $923.42 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sanderson Farms’ earnings, with the highest sales estimate coming in at $941.40 million and the lowest estimate coming in at $905.44 million. Sanderson Farms posted sales of $790.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.8%. The company is expected to issue its next earnings report on Thursday, December 21st.

On average, analysts expect that Sanderson Farms will report full-year sales of $923.42 million for the current fiscal year, with estimates ranging from $3.33 billion to $3.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.45 billion per share, with estimates ranging from $3.42 billion to $3.47 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, topping the consensus estimate of $3.47 by $1.62. The business had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The company’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS.

A number of research analysts have recently commented on SAFM shares. ValuEngine raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Barclays PLC set a $136.00 target price on Sanderson Farms and gave the stock a “hold” rating in a report on Friday, August 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $150.00 price target (up previously from $130.00) on shares of Sanderson Farms in a research report on Friday, August 25th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $129.00 price target (up previously from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. Finally, Stephens lowered Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target for the company. in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $125.45.

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In other Sanderson Farms news, Director Fred L. Banks, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total transaction of $432,330.00. Following the completion of the sale, the director now directly owns 24,948 shares in the company, valued at approximately $3,595,256.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Bierbusse sold 625 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $138.03, for a total value of $86,268.75. Following the sale, the director now owns 14,776 shares of the company’s stock, valued at $2,039,531.28. The disclosure for this sale can be found here. Insiders have sold a total of 5,400 shares of company stock valued at $771,199 over the last 90 days. Corporate insiders own 5.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its position in Sanderson Farms by 1.4% during the 2nd quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock worth $318,000 after acquiring an additional 39 shares during the period. 1st Global Advisors Inc. lifted its holdings in shares of Sanderson Farms by 1.4% during the 1st quarter. 1st Global Advisors Inc. now owns 3,007 shares of the company’s stock valued at $312,000 after buying an additional 42 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Sanderson Farms by 6.9% during the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after buying an additional 62 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Sanderson Farms by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 7,640 shares of the company’s stock valued at $793,000 after buying an additional 70 shares during the last quarter. Finally, Biltmore Wealth Management LLC lifted its holdings in shares of Sanderson Farms by 1.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock valued at $692,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 99.99% of the company’s stock.

Sanderson Farms (NASDAQ:SAFM) opened at 160.08 on Friday. The firm has a market capitalization of $3.64 billion, a PE ratio of 12.85 and a beta of 0.56. The stock has a 50 day moving average of $142.71 and a 200-day moving average of $119.75. Sanderson Farms has a one year low of $74.07 and a one year high of $160.50.

Sanderson Farms Company Profile

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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Earnings History and Estimates for Sanderson Farms (NASDAQ:SAFM)

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