Research Analysts Issue Forecasts for Farmer Brothers Co.’s Q3 2017 Earnings (FARM)
Farmer Brothers Co. (NASDAQ:FARM) – Analysts at Roth Capital boosted their Q3 2017 earnings estimates for shares of Farmer Brothers in a research report issued on Monday. Roth Capital analyst A. Brenner now anticipates that the brokerage will post earnings per share of $0.23 for the quarter, up from their prior estimate of $0.20. Roth Capital also issued estimates for Farmer Brothers’ Q4 2017 earnings at $0.29 EPS.
Farmer Brothers (NASDAQ:FARM) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The company had revenue of $130.50 million for the quarter, compared to analysts’ expectations of $136.23 million. Farmer Brothers had a net margin of 17.10% and a return on equity of 13.48%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS.
A number of other research firms have also weighed in on FARM. B. Riley reiterated a “buy” rating and issued a $39.00 price target on shares of Farmer Brothers in a research report on Wednesday. Zacks Investment Research lowered shares of Farmer Brothers from a “hold” rating to a “sell” rating in a research report on Tuesday, August 2nd.
Farmer Brothers (NASDAQ:FARM) opened at 33.65 on Thursday. Farmer Brothers has a 12-month low of $24.04 and a 12-month high of $36.96. The company has a market cap of $557.31 million, a price-to-earnings ratio of 6.08 and a beta of 1.12. The company’s 50 day moving average is $33.22 and its 200 day moving average is $31.53.
Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Farmer Brothers during the third quarter valued at approximately $119,000. BlackRock Advisors LLC increased its position in Farmer Brothers by 14.5% in the second quarter. BlackRock Advisors LLC now owns 3,858 shares of the company’s stock valued at $124,000 after buying an additional 489 shares during the period. Springbok Capital Management LLC increased its position in Farmer Brothers by 28.9% in the first quarter. Springbok Capital Management LLC now owns 4,900 shares of the company’s stock valued at $137,000 after buying an additional 1,100 shares during the period. 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 valued at $149,000 after buying an additional 123 shares during the period. Finally, 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 valued at $161,000 after buying an additional 292 shares during the period. 45.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Michael H. Keown sold 12,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.59, for a total value of $391,080.00. Following the transaction, the chief executive officer now owns 59,242 shares of the company’s stock, valued at $1,930,696.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 38.10% of the stock is currently owned by company insiders.
About Farmer Brothers
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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