$145.18 Million in Sales Expected for Farmer Bros Co (FARM) This Quarter

Wall Street brokerages expect Farmer Bros Co (NASDAQ:FARM) to report sales of $145.18 million for the current quarter, according to Zacks. Two analysts have made estimates for Farmer Bros’ earnings. The highest sales estimate is $148.85 million and the lowest is $141.50 million. Farmer Bros posted sales of $131.71 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.2%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Farmer Bros will report full-year sales of $626.07 million for the current financial year, with estimates ranging from $621.70 million to $630.43 million. For the next financial year, analysts forecast that the company will report sales of $648.12 million, with estimates ranging from $642.33 million to $653.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Farmer Bros.

Farmer Bros (NASDAQ:FARM) last posted its earnings results on Tuesday, September 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. Farmer Bros had a positive return on equity of 1.04% and a negative net margin of 3.88%. The firm had revenue of $149.54 million for the quarter, compared to analyst estimates of $153.37 million.

Several research firms recently issued reports on FARM. BidaskClub raised Farmer Bros from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 24th. ValuEngine raised Farmer Bros from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, B. Riley reduced their price target on Farmer Bros from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Farmer Bros currently has a consensus rating of “Hold” and an average target price of $33.75.

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

A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its position in Farmer Bros by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 54,501 shares of the company’s stock valued at $1,666,000 after purchasing an additional 1,788 shares in the last quarter. First Trust Advisors LP raised its position in Farmer Bros by 18.2% in 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 in the last quarter. Barclays PLC raised its position in Farmer Bros by 27.7% in 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 in the last quarter. Granite Investment Partners LLC raised its position in Farmer Bros by 0.6% in the 2nd quarter. Granite Investment Partners LLC now owns 440,600 shares of the company’s stock valued at $13,460,000 after purchasing an additional 2,496 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Farmer Bros by 11.9% in the 1st quarter. Russell Investments Group Ltd. now owns 27,263 shares of the company’s stock valued at $824,000 after purchasing an additional 2,891 shares in the last quarter. 60.30% of the stock is currently owned by institutional investors.

FARM opened at $24.11 on Thursday. Farmer Bros has a 12-month low of $23.60 and a 12-month high of $35.05. The stock has a market cap of $414.77 million, a P/E ratio of 185.46, a PEG ratio of 9.75 and a beta of 0.22.

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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Earnings History and Estimates for Farmer Bros (NASDAQ:FARM)

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