Wall Street analysts predict that Farmer Bros Co (NASDAQ:FARM) will announce sales of $162.79 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Farmer Bros’ earnings, with the lowest sales estimate coming in at $161.90 million and the highest estimate coming in at $163.68 million. Farmer Bros posted sales of $167.37 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The firm is scheduled to report its next earnings results after the market closes on Monday, February 11th.
On average, analysts expect that Farmer Bros will report full year sales of $621.00 million for the current fiscal year, with estimates ranging from $616.70 million to $625.30 million. For the next financial year, analysts expect that the firm will report sales of $644.64 million, with estimates ranging from $640.67 million to $648.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Farmer Bros.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings results on Wednesday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.09). The firm had revenue of $147.44 million for the quarter, compared to analyst estimates of $146.39 million. Farmer Bros had a negative net margin of 4.10% and a negative return on equity of 0.57%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share.
Several equities research analysts recently weighed in on the company. BidaskClub lowered Farmer Bros from a “hold” rating to a “sell” rating in a report on Monday, February 4th. ValuEngine lowered Farmer Bros from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Finally, Zacks Investment Research lowered Farmer Bros from a “hold” rating to a “strong sell” rating in a report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.75.
Shares of Farmer Bros stock traded up $0.70 during trading on Friday, hitting $24.64. 82,308 shares of the stock traded hands, compared to its average volume of 35,639. Farmer Bros has a twelve month low of $22.02 and a twelve month high of $33.95. The firm has a market cap of $406.45 million, a price-to-earnings ratio of 189.54, a P/E/G ratio of 17.10 and a beta of 0.18.
Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Farmer Bros by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 54,501 shares of the company’s stock worth $1,666,000 after buying an additional 1,788 shares during the last quarter. US Bancorp DE increased its position in shares of Farmer Bros by 5.8% during the third quarter. US Bancorp DE now owns 45,448 shares of the company’s stock valued at $1,200,000 after purchasing an additional 2,500 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Farmer Bros by 63.1% during the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock valued at $171,000 after purchasing an additional 2,502 shares during the period. Bank of New York Mellon Corp increased its position in shares of Farmer Bros by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 92,054 shares of the company’s stock valued at $2,813,000 after purchasing an additional 3,577 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Farmer Bros by 40.5% during the fourth quarter. Rhumbline Advisers now owns 15,243 shares of the company’s stock valued at $356,000 after purchasing an additional 4,392 shares during the period. Institutional investors own 60.61% of the company’s stock.
About Farmer Bros
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 cold brew and iced coffee.
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