Analysts expect Farmer Brothers (NASDAQ:FARM) to post $160.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Farmer Brothers’ earnings, with estimates ranging from $158.80 million to $163.10 million. Farmer Brothers reported sales of $138.19 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.5%. The firm is expected to issue its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that Farmer Brothers will report full year sales of $621.88 million for the current financial year, with estimates ranging from $620.86 million to $622.90 million. For the next year, analysts forecast that the business will post sales of $671.91 million per share, with estimates ranging from $666.82 million to $677.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Farmer Brothers.
Farmer Brothers (NASDAQ:FARM) last issued its earnings results on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.27). The company had revenue of $167.37 million for the quarter, compared to analyst estimates of $161.62 million. Farmer Brothers had a negative net margin of 2.98% and a positive return on equity of 4.43%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS.
A number of equities analysts have commented on FARM shares. BidaskClub upgraded shares of Farmer Brothers from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Zacks Investment Research downgraded shares of Farmer Brothers from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Roth Capital reaffirmed a “buy” rating and issued a $41.00 target price on shares of Farmer Brothers in a research note on Thursday, March 8th. Finally, TheStreet downgraded shares of Farmer Brothers from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.50.
NASDAQ:FARM traded down $0.15 on Thursday, reaching $28.85. The stock had a trading volume of 56,426 shares, compared to its average volume of 70,799. The firm has a market cap of $487.57, a PE ratio of 41.21 and a beta of 0.47. Farmer Brothers has a 1-year low of $28.50 and a 1-year high of $35.85.
In other Farmer Brothers news, Director Christopher P. Mottern bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $30.26 per share, for a total transaction of $45,390.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeanne Farmer Grossman sold 20,000 shares of Farmer Brothers 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 owns 18,874 shares in the company, valued at $600,193.20. The disclosure for this sale can be found here. 9.20% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Farmer Brothers by 48.5% during the 3rd quarter. Wells Fargo & Company MN now owns 13,670 shares of the company’s stock valued at $449,000 after purchasing an additional 4,466 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Farmer Brothers by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 42,563 shares of the company’s stock valued at $1,399,000 after purchasing an additional 2,262 shares during the period. Dimensional Fund Advisors LP lifted its stake in Farmer Brothers by 10.2% in the third quarter. Dimensional Fund Advisors LP now owns 807,678 shares of the company’s stock worth $26,531,000 after acquiring an additional 75,024 shares during the period. Fruth Investment Management purchased a new stake in Farmer Brothers in the fourth quarter worth $517,000. Finally, BlackRock Inc. raised its holdings in Farmer Brothers by 2.1% in the fourth quarter. BlackRock Inc. now owns 579,290 shares of the company’s stock worth $18,627,000 after purchasing an additional 12,046 shares in the last quarter. Institutional investors own 56.26% of the company’s stock.
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About Farmer Brothers
Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink iced coffee.
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