Wall Street analysts forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will post sales of $767.41 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sanderson Farms’ earnings, with the lowest sales estimate coming in at $754.90 million and the highest estimate coming in at $780.64 million. Sanderson Farms posted sales of $688.35 million during the same quarter last year, which suggests a positive year over year growth rate of 11.5%. The business is expected to announce its next earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Sanderson Farms will report full year sales of $767.41 million for the current financial year, with estimates ranging from $3.33 billion to $3.44 billion. For the next financial year, analysts anticipate that the business will report sales of $3.50 billion per share, with estimates ranging from $3.41 billion to $3.61 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, December 14th. The company reported $3.20 EPS for the quarter, missing the Thomson Reuters’ 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% on a year-over-year basis. During the same period last year, the business posted $3.36 earnings per share.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Sanderson Farms from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 7th. Morgan Stanley assumed coverage on Sanderson Farms in a research note on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 target price for the company. Barclays reissued an “equal weight” rating and issued a $150.00 target price (up from $136.00) on shares of Sanderson Farms in a research note on Thursday, December 14th. KeyCorp assumed coverage on Sanderson Farms in a research note on Tuesday, October 31st. They issued a “sector weight” rating for the company. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $137.80.
In other news, Director Jones Gail Pittman sold 260 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.30% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Sanderson Farms by 1.4% in the 2nd quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock worth $318,000 after purchasing an additional 39 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Sanderson Farms by 6.9% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after purchasing an additional 62 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sanderson Farms by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,426 shares of the company’s stock worth $1,900,000 after purchasing an additional 170 shares during the last quarter. Nuance Investments LLC boosted its position in shares of Sanderson Farms by 1.8% in the 4th quarter. Nuance Investments LLC now owns 26,128 shares of the company’s stock worth $3,626,000 after purchasing an additional 472 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Sanderson Farms by 23.2% in the 4th quarter. ING Groep NV now owns 3,020 shares of the company’s stock worth $419,000 after purchasing an additional 569 shares during the last quarter.
Sanderson Farms (NASDAQ SAFM) traded up $0.69 during midday trading on Wednesday, hitting $127.26. The stock had a trading volume of 391,499 shares, compared to its average volume of 522,917. The firm has a market cap of $2,900.00, a PE ratio of 10.35 and a beta of 0.47. Sanderson Farms has a one year low of $89.75 and a one year high of $176.43.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th will be given a $0.32 dividend. The ex-dividend date is Monday, January 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. Sanderson Farms’s dividend payout ratio is currently 10.41%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.