Equities Analysts Issue Forecasts for Sanderson Farms, Inc.’s FY2017 Earnings (SAFM)
Sanderson Farms, Inc. (NASDAQ:SAFM) – Investment analysts at KeyCorp issued their FY2017 EPS estimates for shares of Sanderson Farms in a research report issued to clients and investors on Monday. KeyCorp analyst D. Carlson anticipates that the company will post earnings per share of $12.57 for the year. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Sanderson Farms’ Q4 2017 earnings at $3.51 EPS, Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $2.84 EPS, Q3 2018 earnings at $3.80 EPS, Q4 2018 earnings at $3.02 EPS and FY2018 earnings at $11.45 EPS.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. The business had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. ILLEGAL ACTIVITY NOTICE: This story was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/11/02/equities-analysts-issue-forecasts-for-sanderson-farms-inc-s-fy2017-earnings-safm.html.
A number of other equities analysts have also commented on SAFM. Zacks Investment Research lowered shares of Sanderson Farms from a “buy” rating to a “sell” rating in a report on Thursday, October 26th. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Mizuho lowered shares of Sanderson Farms from a “buy” rating to a “neutral” rating and increased their price target for the stock from $151.00 to $160.00 in a report on Monday, October 2nd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $129.00 price target (up previously from $112.00) on shares of Sanderson Farms in a report on Thursday, August 24th. Finally, Stephens lowered shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target on the stock. in a report on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $131.27.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.24. Sanderson Farms’s dividend payout ratio (DPR) is currently 10.31%.
In related news, Director John Bierbusse sold 625 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $138.03, for a total transaction of $86,268.75. Following the transaction, the director now owns 14,776 shares of the company’s stock, valued at approximately $2,039,531.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the transaction, the director now directly owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,400 shares of company stock worth $771,199. 5.66% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SAFM. BlackRock Inc. grew its holdings in shares of Sanderson Farms by 38,073.7% during the 1st quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock valued at $280,451,000 after purchasing an additional 2,693,713 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Sanderson Farms during the 2nd quarter valued at $309,000. Origin Asset Management LLP bought a new position in shares of Sanderson Farms during the 2nd quarter valued at $32,665,000. Alliancebernstein L.P. grew its holdings in shares of Sanderson Farms by 603.4% during the 2nd quarter. Alliancebernstein L.P. now owns 270,004 shares of the company’s stock valued at $31,226,000 after purchasing an additional 231,621 shares during the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of Sanderson Farms during the 3rd quarter valued at $28,428,000. 99.95% of the stock is currently owned by institutional investors.
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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