Wall Street brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to report sales of $832.11 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sanderson Farms’ earnings, with the highest sales estimate coming in at $858.31 million and the lowest estimate coming in at $805.90 million. Sanderson Farms reported sales of $802.04 million during the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, May 24th.
According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $3.43 billion for the current fiscal year, with estimates ranging from $3.37 billion to $3.49 billion. For the next financial year, analysts forecast that the business will post sales of $3.65 billion per share, with estimates ranging from $3.64 billion to $3.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Wednesday, May 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.67). The business had revenue of $813.50 million for the quarter, compared to analysts’ expectations of $839.64 million. Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.94 earnings per share.
A number of research firms recently weighed in on SAFM. BidaskClub lowered shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. Zacks Investment Research lowered shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Saturday, May 19th. ValuEngine lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Morgan Stanley reiterated a “hold” rating and issued a $115.00 price objective (down from $140.00) on shares of Sanderson Farms in a research report on Tuesday, February 27th. Finally, Vertical Group upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $125.33.
In other Sanderson Farms news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.38, for a total value of $90,285.00. Following the completion of the sale, the director now owns 12,944 shares of the company’s stock, valued at $1,558,198.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its holdings in Sanderson Farms by 6.4% in the first quarter. Allianz Asset Management GmbH now owns 417,085 shares of the company’s stock valued at $49,642,000 after acquiring an additional 24,990 shares during the period. Principal Financial Group Inc. lifted its holdings in Sanderson Farms by 4.1% in the first quarter. Principal Financial Group Inc. now owns 103,465 shares of the company’s stock valued at $12,315,000 after acquiring an additional 4,081 shares during the period. WINTON GROUP Ltd acquired a new stake in Sanderson Farms in the first quarter valued at $818,000. Royal Bank of Canada lifted its holdings in Sanderson Farms by 17.3% in the first quarter. Royal Bank of Canada now owns 33,762 shares of the company’s stock valued at $4,018,000 after acquiring an additional 4,980 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Sanderson Farms by 55.4% in the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 24,392 shares of the company’s stock valued at $2,903,000 after acquiring an additional 8,700 shares during the period.
Shares of Sanderson Farms traded down $1.00, reaching $106.02, during mid-day trading on Monday, according to Marketbeat. 1,783,400 shares of the company’s stock were exchanged, compared to its average volume of 484,599. The firm has a market cap of $2.42 billion, a PE ratio of 8.62 and a beta of 0.49. Sanderson Farms has a 52-week low of $101.10 and a 52-week high of $176.43.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, April 30th. This represents a $1.28 dividend on an annualized basis and a yield of 1.21%. Sanderson Farms’s dividend payout ratio (DPR) is 10.41%.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company that engages in the production, processing, marketing and distribution of fresh, frozen, further processed and partially cooked chicken products. It operates through three divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.
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