Brokerages predict that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce earnings per share of $1.67 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Sanderson Farms’ earnings, with the highest EPS estimate coming in at $2.00 and the lowest estimate coming in at $1.33. Sanderson Farms posted earnings per share of $5.09 during the same quarter last year, which suggests a negative year over year growth rate of 67.2%. The business is scheduled to report its next earnings results on Thursday, August 23rd.
According to Zacks, analysts expect that Sanderson Farms will report full-year earnings of $7.55 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $10.65. For the next year, analysts forecast that the business will report earnings of $7.36 per share, with EPS estimates ranging from $4.65 to $10.65. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 24th. The company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.67). Sanderson Farms had a return on equity of 16.79% and a net margin of 8.20%. The firm had revenue of $813.50 million for the quarter, compared to analyst estimates of $839.64 million. During the same period in the prior year, the company posted $2.94 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year.
Several research analysts have issued reports on SAFM shares. ValuEngine downgraded Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Vertical Group upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Barclays reiterated an “equal weight” rating on shares of Sanderson Farms in a research report on Monday, February 26th. Mizuho reiterated a “hold” rating and set a $120.00 target price on shares of Sanderson Farms in a research report on Monday, April 23rd. Finally, Buckingham Research dropped their target price on shares of Sanderson Farms from $111.00 to $104.00 and set a “hold” rating for the company in a research report on Wednesday, April 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $117.56.
Several institutional investors have recently modified their holdings of SAFM. Renaissance Technologies LLC raised its position in shares of Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock valued at $248,391,000 after acquiring an additional 501,917 shares during the last quarter. Scopia Capital Management LP bought a new stake in shares of Sanderson Farms in the 1st quarter valued at $28,402,000. Millennium Management LLC increased its position in shares of Sanderson Farms by 970.6% in the 1st quarter. Millennium Management LLC now owns 218,788 shares of the company’s stock valued at $26,040,000 after buying an additional 198,352 shares in the last quarter. WS Management Lllp bought a new stake in shares of Sanderson Farms in the 1st quarter valued at $18,278,000. Finally, Matarin Capital Management LLC bought a new stake in shares of Sanderson Farms in the 1st quarter valued at $12,487,000.
Sanderson Farms traded down $0.63, hitting $100.51, during trading hours on Friday, MarketBeat Ratings reports. 636,400 shares of the stock were exchanged, compared to its average volume of 522,008. Sanderson Farms has a twelve month low of $96.80 and a twelve month high of $176.43. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 8.17 and a beta of 0.42.
Sanderson Farms announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 31st that allows the company to buyback 2,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Sanderson Farms Company Profile
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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