Wall Street brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to announce earnings of $1.08 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Sanderson Farms’ earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $1.33. Sanderson Farms reported earnings per share of $5.09 during the same quarter last year, which indicates a negative year over year growth rate of 78.8%. The company is expected to announce its next earnings results before the market opens on Thursday, August 23rd.
According to Zacks, analysts expect that Sanderson Farms will report full year earnings of $5.48 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $6.30. For the next year, analysts anticipate that the business will report earnings of $5.80 per share, with EPS estimates ranging from $2.98 to $8.27. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, May 24th. The company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by ($0.67). The business had revenue of $813.50 million for the quarter, compared to analysts’ expectations of $839.64 million. Sanderson Farms had a net margin of 8.20% and a return on equity of 16.79%. Sanderson Farms’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $2.94 earnings per share.
SAFM has been the topic of several recent research reports. Barclays reaffirmed a “hold” rating and set a $110.00 price objective on shares of Sanderson Farms in a report on Friday, May 25th. Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. BidaskClub raised shares of Sanderson Farms from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. JPMorgan Chase & Co. dropped their price objective on shares of Sanderson Farms from $110.00 to $89.00 and set an “underweight” rating on the stock in a report on Friday, June 1st. Finally, BMO Capital Markets dropped their price objective on shares of Sanderson Farms from $125.00 to $95.00 and set a “market perform” rating on the stock in a report on Friday, May 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Sanderson Farms has a consensus rating of “Hold” and a consensus target price of $116.22.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Sanderson Farms by 12.1% during the second quarter. Schroder Investment Management Group now owns 327,923 shares of the company’s stock valued at $34,098,000 after buying an additional 35,322 shares during the period. Advisors Asset Management Inc. increased its position in shares of Sanderson Farms by 911.6% during the second quarter. Advisors Asset Management Inc. now owns 51,269 shares of the company’s stock valued at $427,000 after buying an additional 46,201 shares during the period. Dean Capital Management bought a new stake in shares of Sanderson Farms during the second quarter valued at about $1,649,000. Millennium Management LLC increased its position in shares of Sanderson Farms by 118.7% during the second quarter. Millennium Management LLC now owns 478,423 shares of the company’s stock valued at $50,306,000 after buying an additional 259,635 shares during the period. Finally, MetLife Investment Advisors LLC increased its position in shares of Sanderson Farms by 4.0% during the second quarter. MetLife Investment Advisors LLC now owns 21,992 shares of the company’s stock valued at $2,312,000 after buying an additional 850 shares during the period.
NASDAQ SAFM traded up $3.33 during trading on Tuesday, hitting $108.95. 530,239 shares of the company’s stock traded hands, compared to its average volume of 491,269. The company has a market cap of $2.35 billion, a PE ratio of 8.86 and a beta of 0.33. Sanderson Farms has a 12-month low of $95.97 and a 12-month high of $176.43.
Sanderson Farms announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 31st that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Tuesday, July 31st were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, July 30th. Sanderson Farms’s dividend payout ratio is presently 10.41%.
Sanderson Farms Company Profile
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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