$0.20 Earnings Per Share Expected for Farmer Bros Co (FARM) This Quarter
Equities analysts expect Farmer Bros Co (NASDAQ:FARM) to announce earnings of $0.20 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Farmer Bros’ earnings, with the lowest EPS estimate coming in at $0.17 and the highest estimate coming in at $0.23. Farmer Bros posted earnings of $0.17 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.6%. The business is expected to issue its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Farmer Bros will report full-year earnings of ($0.59) per share for the current year, with EPS estimates ranging from ($0.62) to ($0.55). For the next fiscal year, analysts forecast that the firm will post earnings of $1.17 per share, with EPS estimates ranging from $1.16 to $1.17. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Farmer Bros.
Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($1.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($1.27). The business had revenue of $167.37 million during the quarter, compared to the consensus estimate of $161.62 million. Farmer Bros had a positive return on equity of 4.43% and a negative net margin of 2.98%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share.
In other news, Director Jeanne Farmer Grossman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total transaction of $636,000.00. Following the sale, the director now directly owns 18,874 shares in the company, valued at $600,193.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher P. Mottern acquired 1,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average price of $30.26 per share, for a total transaction of $45,390.00. The disclosure for this purchase can be found here. Insiders own 9.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in Farmer Bros by 2.1% in the second quarter. Northern Trust Corp now owns 153,118 shares of the company’s stock valued at $4,631,000 after acquiring an additional 3,210 shares during the period. Vanguard Group Inc. grew its position in Farmer Bros by 4.3% in the second quarter. Vanguard Group Inc. now owns 534,948 shares of the company’s stock valued at $16,182,000 after acquiring an additional 21,825 shares during the period. Trigran Investments Inc. grew its position in Farmer Bros by 2.5% in the third quarter. Trigran Investments Inc. now owns 999,231 shares of the company’s stock valued at $32,825,000 after acquiring an additional 24,652 shares during the period. Fruth Investment Management bought a new stake in Farmer Bros in the fourth quarter valued at $517,000. Finally, Royce & Associates LP grew its position in Farmer Bros by 18.4% in the third quarter. Royce & Associates LP now owns 288,877 shares of the company’s stock valued at $9,490,000 after acquiring an additional 44,800 shares during the period. Institutional investors and hedge funds own 56.28% of the company’s stock.
Shares of Farmer Bros (NASDAQ FARM) traded up $0.35 during midday trading on Wednesday, reaching $33.65. The company’s stock had a trading volume of 120,242 shares, compared to its average volume of 69,446. The company has a market cap of $559.38, a P/E ratio of -33.06 and a beta of 0.52. Farmer Bros has a 52 week low of $28.75 and a 52 week high of $37.35.
About Farmer Bros
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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