Sanderson Farms, Inc. (SAFM) Expected to Announce Quarterly Sales of $891.41 Million
Equities research analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to report sales of $891.41 million for the current quarter, Zacks reports. Two analysts have made estimates for Sanderson Farms’ earnings. The lowest sales estimate is $891.02 million and the highest is $891.80 million. Sanderson Farms reported sales of $727.99 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The business is expected to issue its next earnings results before the market opens on Thursday, August 24th.
According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $891.41 million for the current year. For the next fiscal year, analysts forecast that the company will report sales of $3.49 billion per share, with estimates ranging from $3.43 billion to $3.54 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 25th. The company reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. During the same quarter in the previous year, the firm earned $2.11 earnings per share. Sanderson Farms’s revenue was up 15.9% on a year-over-year basis.
Several research firms recently issued reports on SAFM. BMO Capital Markets reiterated a “hold” rating and set a $105.00 target price on shares of Sanderson Farms in a research report on Wednesday, April 12th. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price for the company in a research report on Wednesday, July 5th. Barclays PLC began coverage on Sanderson Farms in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $125.00 target price for the company. BidaskClub cut Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC cut their target price on Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $119.44.
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In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now owns 13,072 shares in the company, valued at approximately $1,538,443.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the transaction, the director now owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC purchased a new position in Sanderson Farms during the second quarter valued at $125,000. Strs Ohio boosted its position in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Sanderson Farms during the first quarter valued at $179,000. Affinity Investment Advisors LLC purchased a new position in Sanderson Farms during the first quarter valued at $209,000. Finally, Paragon Capital Management Ltd purchased a new position in Sanderson Farms during the second quarter valued at $209,000.
Sanderson Farms (NASDAQ:SAFM) opened at 137.92 on Thursday. Sanderson Farms has a one year low of $74.07 and a one year high of $137.97. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 14.16 and a beta of 0.62. The stock’s 50 day moving average price is $122.62 and its 200 day moving average price is $109.90.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, July 28th. Sanderson Farms’s dividend payout ratio is presently 9.86%.
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.
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