Media stories about Sanderson Farms (NASDAQ:SAFM) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm identifies positive and negative media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sanderson Farms earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave media headlines about the company an impact score of 46.2597889909745 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the media stories that may have effected Accern Sentiment’s analysis:
A number of brokerages recently issued reports on SAFM. Cfra set a $108.00 price target on Sanderson Farms and gave the stock a “hold” rating in a research report on Saturday, May 26th. ValuEngine cut shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Thursday, May 31st. Mizuho reissued a “hold” rating and issued a $120.00 target price on shares of Sanderson Farms in a research note on Monday, April 23rd. Zacks Investment Research upgraded shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, Buckingham Research dropped their price target on shares of Sanderson Farms from $104.00 to $97.00 and set a “hold” rating for the company in a research note on Friday, May 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $117.56.
Sanderson Farms traded up $2.51, reaching $103.39, during trading hours on Wednesday, according to MarketBeat. 195,317 shares of the company’s stock traded hands, compared to its average volume of 559,536. The stock has a market cap of $2.30 billion, a P/E ratio of 8.41 and a beta of 0.39. Sanderson Farms has a 52-week low of $96.80 and a 52-week high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, May 24th. The company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.67). The business had revenue of $813.50 million for the quarter, compared to the consensus estimate of $839.64 million. Sanderson Farms had a return on equity of 16.79% and a net margin of 8.20%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 earnings per share. sell-side analysts anticipate that Sanderson Farms will post 7.55 EPS for the current fiscal year.
Sanderson Farms declared that its board has approved a stock buyback program on Thursday, May 31st that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
About Sanderson Farms
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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