Research Analysts Offer Predictions for Farmer Brothers Co.’s Q2 2017 Earnings (FARM)
Farmer Brothers Co. (NASDAQ:FARM) – Equities researchers at B. Riley lowered their Q2 2017 EPS estimates for Farmer Brothers in a report issued on Tuesday. B. Riley analyst K. Anderson now forecasts that the firm will earn $0.31 per share for the quarter, down from their prior estimate of $0.35. B. Riley has a “Buy” rating and a $39.00 price objective on the stock. B. Riley also issued estimates for Farmer Brothers’ Q3 2017 earnings at $0.25 EPS, Q4 2017 earnings at $0.27 EPS, FY2017 earnings at $1.04 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.31 EPS and FY2018 earnings at $1.21 EPS.
Farmer Brothers (NASDAQ:FARM) last posted its earnings results on Monday, November 7th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Farmer Brothers had a net margin of 17.10% and a return on equity of 14.91%. The company earned $130.50 million during the quarter, compared to the consensus estimate of $136.23 million. During the same quarter in the prior year, the business earned $0.25 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year.
Separately, Zacks Investment Research raised Farmer Brothers from a “sell” rating to a “hold” rating in a research report on Monday, September 5th.
Farmer Brothers (NASDAQ:FARM) traded down 5.59% on Wednesday, hitting $32.95. The stock had a trading volume of 11,477 shares. The stock has a 50 day moving average price of $33.35 and a 200 day moving average price of $31.49. The company has a market cap of $545.65 million, a P/E ratio of 6.10 and a beta of 1.12. Farmer Brothers has a 1-year low of $24.04 and a 1-year high of $36.96.
In other Farmer Brothers news, CEO Michael H. Keown sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $32.59, for a total transaction of $391,080.00. Following the completion of the transaction, the chief executive officer now owns 59,242 shares of the company’s stock, valued at approximately $1,930,696.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 38.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Farmer Brothers by 2.7% in the second quarter. American International Group Inc. now owns 4,657 shares of the company’s stock worth $149,000 after buying an additional 123 shares during the period. California State Teachers Retirement System increased its position in Farmer Brothers by 1.2% in the third quarter. California State Teachers Retirement System now owns 17,165 shares of the company’s stock worth $610,000 after buying an additional 200 shares during the period. Nationwide Fund Advisors increased its position in Farmer Brothers by 6.2% in the second quarter. Nationwide Fund Advisors now owns 5,009 shares of the company’s stock worth $161,000 after buying an additional 292 shares during the period. Teachers Advisors Inc. increased its position in Farmer Brothers by 2.2% in the second quarter. Teachers Advisors Inc. now owns 13,818 shares of the company’s stock worth $443,000 after buying an additional 300 shares during the period. Finally, Rhumbline Advisers increased its position in Farmer Brothers by 4.9% in the second quarter. Rhumbline Advisers now owns 8,712 shares of the company’s stock worth $279,000 after buying an additional 407 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.
Farmer Brothers Company Profile
Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.
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