Brokers Set Expectations for Sanderson Farms Inc.’s FY2016 Earnings (SAFM)
Sanderson Farms Inc. (NASDAQ:SAFM) – Research analysts at DA Davidson issued their FY2016 earnings estimates for shares of Sanderson Farms in a note issued to investors on Tuesday. DA Davidson analyst E. Gottlieb forecasts that the firm will post earnings of $7.58 per share for the year. DA Davidson has a “Neutral” rating and a $103.00 price objective on the stock. DA Davidson also issued estimates for Sanderson Farms’ Q4 2016 earnings at $2.58 EPS, Q1 2017 earnings at $1.38 EPS, Q2 2017 earnings at $2.22 EPS, Q3 2017 earnings at $2.34 EPS, Q4 2017 earnings at $2.21 EPS, FY2017 earnings at $8.15 EPS, Q1 2018 earnings at $1.44 EPS, Q2 2018 earnings at $1.72 EPS, Q3 2018 earnings at $2.20 EPS and FY2018 earnings at $6.60 EPS.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results on Thursday, August 25th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.31. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The company had revenue of $728 million for the quarter, compared to analyst estimates of $749.76 million. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 earnings per share.
Separately, Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Sanderson Farms has a consensus rating of “Hold” and a consensus price target of $84.38.
Sanderson Farms (NASDAQ:SAFM) opened at 89.15 on Friday. The company’s 50-day moving average is $95.02 and its 200 day moving average is $89.93. The stock has a market cap of $2.01 billion, a PE ratio of 14.30 and a beta of 0.33. Sanderson Farms has a 52 week low of $64.54 and a 52 week high of $99.40.
The company also recently announced a special dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 4th will be paid a dividend of $1.00 per share. This is a boost from Sanderson Farms’s previous special dividend of $0.50. The ex-dividend date of this dividend is Friday, September 30th. This represents a yield of 1.01%. Sanderson Farms’s dividend payout ratio (DPR) is presently 15.43%.
In other news, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $97.00, for a total transaction of $72,750.00. Following the sale, the director now owns 14,296 shares in the company, valued at $1,386,712. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.45% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC bought a new stake in Sanderson Farms during the second quarter valued at about $115,000. Acrospire Investment Management LLC boosted its stake in Sanderson Farms by 366.7% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock valued at $121,000 after buying an additional 1,100 shares during the last quarter. BlackRock Inc. boosted its stake in Sanderson Farms by 120.2% in the first quarter. BlackRock Inc. now owns 1,546 shares of the company’s stock valued at $140,000 after buying an additional 844 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Sanderson Farms during the first quarter valued at about $167,000. Finally, Tower Research Capital LLC TRC boosted its stake in Sanderson Farms by 1,497.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,981 shares of the company’s stock valued at $172,000 after buying an additional 1,857 shares during the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.
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 the preparation, processing, marketing and distribution of processed and prepared chicken items. 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 principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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