Brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to report $891.41 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Sanderson Farms’ earnings, with estimates ranging from $891.02 million to $891.80 million. Sanderson Farms posted sales of $727.99 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The business is expected to announce its next earnings results before the market opens on Thursday, August 24th.
According to Zacks, analysts expect that Sanderson Farms will report full year sales of $891.41 million for the current fiscal year. For the next year, analysts forecast that the firm will report sales of $3.49 billion per share, with estimates ranging from $3.43 billion to $3.54 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company had revenue of $802 million for the quarter, compared to analyst estimates of $769.47 million. During the same quarter in the previous year, the company earned $2.11 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and issued a $130.00 price target (up previously from $105.00) on shares of Sanderson Farms in a research note on Friday, May 26th. Zacks Investment Research lowered shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Mizuho assumed coverage on shares of Sanderson Farms in a research note on Wednesday, June 7th. They issued a “buy” rating and a $142.00 price target on the stock. Finally, Jefferies Group LLC restated a “sell” rating and issued a $85.00 price target on shares of Sanderson Farms in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms presently has a consensus rating of “Buy” and an average target price of $119.44.
In other news, Director Phil K. Livingston sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the transaction, the director now directly owns 9,673 shares in the company, valued at $1,175,269.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dianne Mooney sold 1,103 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now owns 13,072 shares of the company’s stock, valued at $1,538,443.68. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC bought a new position in Sanderson Farms during the second quarter valued at about $125,000. Strs Ohio boosted its position in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares during the period. Ameritas Investment Partners Inc. bought a new position in Sanderson Farms during the first quarter valued at about $179,000. Affinity Investment Advisors LLC bought a new position in Sanderson Farms during the first quarter valued at about $209,000. Finally, Paragon Capital Management Ltd bought a new position in Sanderson Farms during the second quarter valued at about $209,000.
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Shares of Sanderson Farms (NASDAQ SAFM) opened at 137.92 on Thursday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 14.16 and a beta of 0.62. The firm has a 50-day moving average price of $122.62 and a 200-day moving average price of $109.90. Sanderson Farms has a one year low of $74.07 and a one year high of $137.97.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s dividend payout ratio (DPR) is presently 9.86%.
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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