Wall Street analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to post $919.12 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Sanderson Farms’ earnings. The highest sales estimate is $941.40 million and the lowest is $891.46 million. Sanderson Farms posted sales of $790.81 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.2%. The business is expected to report its next quarterly earnings results on Thursday, December 21st.
According to Zacks, analysts expect that Sanderson Farms will report full year sales of $919.12 million for the current financial year, with estimates ranging from $3.31 billion to $3.36 billion. For the next year, analysts anticipate that the company will post sales of $3.44 billion per share, with estimates ranging from $3.30 billion to $3.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $1.62. The firm had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS.
SAFM has been the subject of several analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $150.00 price objective on shares of Sanderson Farms in a research note on Friday, October 13th. Mizuho set a $150.00 price objective on Sanderson Farms and gave the company a “hold” rating in a research note on Monday, October 16th. J P Morgan Chase & Co downgraded Sanderson Farms from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $129.00 to $134.00 in a research note on Friday, October 6th. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Tuesday, October 17th. Finally, Morgan Stanley initiated coverage on Sanderson Farms in a research note on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Sanderson Farms has a consensus rating of “Hold” and a consensus price target of $132.00.
Shares of Sanderson Farms (NASDAQ:SAFM) opened at $158.51 on Friday. The company has a market capitalization of $3,605.15, a P/E ratio of 12.77 and a beta of 0.56. Sanderson Farms has a one year low of $74.07 and a one year high of $166.65.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd were given a dividend of $0.32 per share. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.28 annualized dividend and a yield of 0.81%. Sanderson Farms’s payout ratio is presently 10.31%.
In related news, Director Robert C. Khayat sold 1,775 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total value of $252,600.25. Following the sale, the director now owns 12,043 shares in the company, valued at approximately $1,713,839.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the completion of the sale, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,400 shares of company stock worth $771,199. Insiders own 5.66% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its holdings in shares of Sanderson Farms by 6.9% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after acquiring an additional 62 shares during the period. PNC Financial Services Group Inc. lifted its stake in Sanderson Farms by 144.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after buying an additional 662 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Sanderson Farms in the 2nd quarter valued at approximately $125,000. World Asset Management Inc purchased a new stake in Sanderson Farms in the 3rd quarter valued at approximately $207,000. Finally, Foster & Motley Inc. purchased a new stake in Sanderson Farms in the 3rd quarter valued at approximately $213,000. Institutional investors and hedge funds own 99.95% of the company’s stock.
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Sanderson Farms Company Profile
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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