Wall Street analysts expect that Sanderson Farms, Inc. (NASDAQ:SAFM) will report earnings per share of $1.07 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sanderson Farms’ earnings. The highest EPS estimate is $1.21 and the lowest is $0.71. Sanderson Farms posted earnings of $1.02 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The business is expected to issue its next earnings results before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Sanderson Farms will report full-year earnings of $9.90 per share for the current financial year, with EPS estimates ranging from $7.13 to $11.38. For the next financial year, analysts forecast that the business will post earnings of $7.22 per share, with EPS estimates ranging from $4.88 to $9.31. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, December 14th. The company reported $3.20 EPS for the quarter, missing analysts’ consensus estimates of $3.50 by ($0.30). Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The business had revenue of $919.90 million during the quarter, compared to analysts’ expectations of $916.07 million. During the same quarter last year, the business posted $3.36 earnings per share. The company’s quarterly revenue was up 16.3% compared to the same quarter last year.
SAFM has been the subject of a number of research analyst reports. Zacks Investment Research cut Sanderson Farms from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. KeyCorp initiated coverage on Sanderson Farms in a research note on Tuesday, October 31st. They issued a “sector weight” rating for the company. Mizuho set a $150.00 price target on Sanderson Farms and gave the company a “hold” rating in a research note on Monday, October 16th. BMO Capital Markets reiterated a “hold” rating and issued a $140.00 price target on shares of Sanderson Farms in a research note on Monday, December 18th. Finally, BidaskClub cut Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $137.80.
Sanderson Farms (NASDAQ SAFM) traded down $4.51 during trading on Monday, reaching $125.50. The company’s stock had a trading volume of 455,242 shares, compared to its average volume of 541,698. Sanderson Farms has a 52 week low of $87.54 and a 52 week high of $176.43. The stock has a market capitalization of $2,910.00, a PE ratio of 10.20 and a beta of 0.47.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Monday, January 29th. Sanderson Farms’s dividend payout ratio is presently 10.41%.
In other news, Director Jones Gail Pittman sold 260 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SAFM. Amalgamated Bank increased its holdings in shares of Sanderson Farms by 1.4% in the second quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock valued at $318,000 after purchasing an additional 39 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after purchasing an additional 662 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Sanderson Farms in the second quarter valued at about $247,000. Northern Trust Corp increased its holdings in shares of Sanderson Farms by 10.0% in the second quarter. Northern Trust Corp now owns 445,471 shares of the company’s stock valued at $51,518,000 after purchasing an additional 40,431 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Sanderson Farms by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,903,103 shares of the company’s stock valued at $220,094,000 after purchasing an additional 98,236 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.
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About Sanderson Farms
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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