Brokerages expect Farmer Bros Co (NASDAQ:FARM) to report ($0.15) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Farmer Bros’ earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.16). Farmer Bros posted earnings per share of $0.14 in the same quarter last year, which indicates a negative year-over-year growth rate of 207.1%. The company is expected to issue its next earnings report on Tuesday, September 10th.
On average, analysts expect that Farmer Bros will report full year earnings of ($3.99) per share for the current fiscal year, with EPS estimates ranging from ($4.00) to ($3.97). For the next fiscal year, analysts forecast that the business will post earnings of $0.21 per share. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Farmer Bros.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($3.11). Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The business had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $152.03 million. During the same period in the prior year, the company posted ($0.20) EPS. The firm’s revenue was down 7.1% on a year-over-year basis.
Several analysts recently issued reports on the stock. Roth Capital reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $28.00) on shares of Farmer Bros in a research note on Wednesday, May 8th. Lake Street Capital dropped their price objective on shares of Farmer Bros from $36.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. TheStreet upgraded shares of WillScot from a “d-” rating to a “c-” rating in a report on Wednesday, May 8th. Finally, B. Riley boosted their target price on shares of Lumentum from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Farmer Bros currently has an average rating of “Hold” and a consensus price target of $22.33.
In other news, major shareholder Levin Easterly Partners Llc bought 9,019 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $19.86 per share, for a total transaction of $179,117.34. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 161,851 shares of company stock worth $2,874,056 over the last quarter. 10.90% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its stake in Farmer Bros by 415.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock worth $42,000 after buying an additional 1,695 shares during the period. Legal & General Group Plc increased its position in shares of Farmer Bros by 44.3% in the 4th quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock valued at $55,000 after purchasing an additional 726 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Farmer Bros by 389.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock valued at $73,000 after purchasing an additional 2,502 shares during the last quarter. Bank of America Corp DE increased its position in shares of Farmer Bros by 39.3% in the 4th quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock valued at $177,000 after purchasing an additional 2,137 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Farmer Bros in the 4th quarter valued at approximately $225,000. Institutional investors own 65.40% of the company’s stock.
NASDAQ FARM traded up $0.10 during trading hours on Wednesday, hitting $17.15. 842 shares of the company’s stock traded hands, compared to its average volume of 104,881. Farmer Bros has a 52-week low of $15.58 and a 52-week high of $30.20. The company has a market cap of $290.53 million, a P/E ratio of 132.08, a PEG ratio of 10.15 and a beta of 0.12. The company has a quick ratio of 0.93, a current ratio of 2.03 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average is $17.81.
Farmer Bros Company Profile
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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