Farmer Bros Co (FARM) Expected to Announce Earnings of -$0.11 Per Share

Equities research analysts expect Farmer Bros Co (NASDAQ:FARM) to post earnings per share of ($0.11) for the current quarter, according to Zacks. Two analysts have issued estimates for Farmer Bros’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.11). Farmer Bros posted earnings of $0.03 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 466.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Farmer Bros will report full year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.30 to $0.33. For the next year, analysts expect that the business will post earnings of $0.80 per share, with EPS estimates ranging from $0.75 to $0.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Farmer Bros.

Farmer Bros (NASDAQ:FARM) last issued its earnings results on Tuesday, September 11th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $149.54 million during the quarter, compared to analysts’ expectations of $153.37 million. Farmer Bros had a negative net margin of 3.88% and a positive return on equity of 1.04%.

Several equities analysts have recently commented on the stock. ValuEngine cut shares of Farmer Bros from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Zacks Investment Research raised shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 10th. BidaskClub lowered shares of Farmer Bros from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, B. Riley decreased their price target on shares of Farmer Bros from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.75.

In related news, CEO Michael H. Keown sold 23,333 shares of Farmer Bros stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $28.03, for a total transaction of $654,023.99. Following the sale, the chief executive officer now directly owns 68,405 shares of the company’s stock, valued at approximately $1,917,392.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Farmer Bros by 171.3% during the 1st quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after purchasing an additional 3,958 shares during the last quarter. Suntrust Banks Inc. bought a new stake in shares of Farmer Bros during the 1st quarter valued at approximately $259,000. Barclays PLC grew its holdings in shares of Farmer Bros by 27.7% during the 1st quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after purchasing an additional 2,393 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Farmer Bros by 18.2% during the 2nd quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Farmer Bros by 24.4% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the company’s stock valued at $638,000 after purchasing an additional 4,100 shares during the last quarter. 60.30% of the stock is currently owned by institutional investors.

Shares of NASDAQ:FARM opened at $24.00 on Tuesday. The company has a market capitalization of $415.61 million, a PE ratio of 204.00, a PEG ratio of 9.71 and a beta of 0.22. Farmer Bros has a 12 month low of $23.60 and a 12 month high of $35.05.

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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