Wall Street brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to announce $772.55 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Sanderson Farms’ earnings. The lowest sales estimate is $754.90 million and the highest is $782.10 million. Sanderson Farms posted sales of $688.35 million in the same quarter last year, which suggests a positive year over year growth rate of 12.2%. The company is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $772.55 million for the current fiscal year, with estimates ranging from $3.33 billion to $3.45 billion. For the next year, analysts forecast that the firm will report sales of $3.49 billion per share, with estimates ranging from $3.38 billion to $3.61 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($0.30). The firm had revenue of $919.90 million during the quarter, compared to analyst estimates of $916.07 million. Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.36 EPS.

Several research firms have weighed in on SAFM. BidaskClub lowered Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets restated a “hold” rating and issued a $140.00 price target on shares of Sanderson Farms in a research note on Monday, December 18th. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “sell” rating in a research report on Thursday, October 26th. Stephens reiterated an “equal weight” rating and set a $170.00 target price (up from $145.00) on shares of Sanderson Farms in a research report on Monday, September 25th. Finally, Barclays reissued an “equal weight” rating and set a $150.00 price target (up previously from $136.00) on shares of Sanderson Farms in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $137.80.

Sanderson Farms (NASDAQ:SAFM) traded up $0.09 during trading hours on Friday, hitting $133.98. The company’s stock had a trading volume of 805,600 shares, compared to its average volume of 878,900. The firm has a market cap of $3,056.06, a price-to-earnings ratio of 10.94 and a beta of 0.61. Sanderson Farms has a 52-week low of $87.54 and a 52-week high of $176.43.

In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.66% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of SAFM. Advisor Group Inc. boosted its position 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 purchasing an additional 62 shares in the last quarter. PNC Financial Services Group Inc. increased its position 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 valued at $130,000 after acquiring an additional 662 shares during the last quarter. Riverhead Capital Management LLC increased its position 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 valued at $173,000 after acquiring an additional 499 shares during the last quarter. World Asset Management Inc purchased a new stake in shares of Sanderson Farms during the third quarter valued at approximately $207,000. Finally, Foster & Motley Inc. purchased a new stake in shares of Sanderson Farms during the third quarter valued at approximately $213,000. 99.81% of the stock is owned by institutional investors.

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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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