Wall Street brokerages expect Farmer Brothers (NASDAQ:FARM) to announce earnings per share (EPS) of $0.20 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Farmer Brothers’ earnings, with estimates ranging from $0.17 to $0.23. Farmer Brothers reported earnings of $0.17 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.6%. The business is expected to report its next earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Farmer Brothers will report full year earnings of ($0.59) per share for the current fiscal year, with EPS estimates ranging from ($0.62) to ($0.55). For the next financial year, analysts forecast that the firm will post earnings of $1.17 per share, with EPS estimates ranging from $1.16 to $1.17. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Farmer Brothers.
Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($1.27). Farmer Brothers had a negative net margin of 2.98% and a positive return on equity of 4.43%. The firm had revenue of $167.37 million during the quarter, compared to analysts’ expectations of $161.62 million. During the same quarter in the prior year, the business earned $1.20 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year.
A number of brokerages have recently weighed in on FARM. BidaskClub upgraded Farmer Brothers from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. Zacks Investment Research cut Farmer Brothers from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Roth Capital restated a “buy” rating and issued a $41.00 price target on shares of Farmer Brothers in a research report on Thursday, March 8th. Finally, TheStreet cut Farmer Brothers from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Farmer Brothers has a consensus rating of “Hold” and an average price target of $38.50.
Shares of FARM stock opened at $29.00 on Tuesday. Farmer Brothers has a fifty-two week low of $28.50 and a fifty-two week high of $35.85. The firm has a market capitalization of $490.93, a PE ratio of 53.80 and a beta of 0.47.
In related news, Director Jeanne Farmer Grossman sold 20,000 shares of Farmer Brothers stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total transaction of $636,000.00. Following the completion of the sale, the director now owns 18,874 shares in the company, valued at approximately $600,193.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher P. Mottern acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $30.26 per share, with a total value of $45,390.00. The disclosure for this purchase can be found here. Company insiders own 9.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new stake in Farmer Brothers during the 4th quarter worth about $128,000. Deutsche Bank AG increased its position in Farmer Brothers by 61.6% during the 4th quarter. Deutsche Bank AG now owns 19,753 shares of the company’s stock worth $633,000 after purchasing an additional 7,529 shares in the last quarter. Kennedy Capital Management Inc. increased its position in Farmer Brothers by 12.3% during the 4th quarter. Kennedy Capital Management Inc. now owns 236,714 shares of the company’s stock worth $7,610,000 after purchasing an additional 25,926 shares in the last quarter. Geode Capital Management LLC increased its position in Farmer Brothers by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 98,185 shares of the company’s stock worth $3,156,000 after purchasing an additional 5,132 shares in the last quarter. Finally, Royce & Associates LP increased its position in Farmer Brothers by 10.9% during the 4th quarter. Royce & Associates LP now owns 320,406 shares of the company’s stock worth $10,301,000 after purchasing an additional 31,529 shares in the last quarter. Hedge funds and other institutional investors own 56.26% of the company’s stock.
Farmer Brothers 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 iced coffee.
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