Sanderson Farms, Inc. (SAFM) Expected to Post Quarterly Sales of $916.43 Million
Wall Street analysts forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will post $916.43 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Sanderson Farms’ earnings. The lowest sales estimate is $891.46 million and the highest is $941.40 million. Sanderson Farms reported sales of $790.81 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.9%. The company is expected to report its next quarterly earnings report on Thursday, December 21st.
According to Zacks, analysts expect that Sanderson Farms will report full year sales of $916.43 million for the current year, with estimates ranging from $3.31 billion to $3.36 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.39 billion per share, with estimates ranging from $3.30 billion to $3.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $1.62. The firm had revenue of $931.90 million for the quarter, compared to analyst estimates of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. Sanderson Farms’s revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 earnings per share.
Several equities analysts have weighed in on SAFM shares. BMO Capital Markets reissued a “hold” rating and issued a $150.00 target price on shares of Sanderson Farms in a research note on Friday, October 13th. J P Morgan Chase & Co lowered Sanderson Farms from a “neutral” rating to an “underweight” rating and increased their target price for the company from $129.00 to $134.00 in a research note on Friday, October 6th. Mizuho set a $150.00 target price on Sanderson Farms and gave the company a “hold” rating in a research note on Monday, October 16th. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price on the stock in a research note on Wednesday, July 5th. Finally, ValuEngine raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $131.27.
In other Sanderson Farms news, Director John Bierbusse sold 625 shares of the 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 completion of the sale, the director now directly owns 14,776 shares in the company, valued at $2,039,531.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the completion of the sale, the director now owns 24,948 shares of the company’s stock, valued at $3,595,256.28. The disclosure for this sale can be found here. Insiders sold 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.
Institutional investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in shares of Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Sanderson Farms during the second quarter worth about $125,000. PNC Financial Services Group Inc. grew its holdings in shares of Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after buying an additional 662 shares in the last quarter. Strs Ohio grew its holdings in shares of Sanderson Farms by 180.0% during the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of Sanderson Farms by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after buying an additional 499 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.
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Sanderson Farms (NASDAQ SAFM) opened at 147.77 on Monday. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $166.65. The company’s 50-day moving average price is $154.90 and its 200-day moving average price is $130.30. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.86 and a beta of 0.58.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd were issued a $0.32 dividend. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, October 2nd. Sanderson Farms’s dividend payout ratio is 10.31%.
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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