Seneca Foods (NASDAQ:SENEA) Issues Quarterly Earnings Results

Seneca Foods (NASDAQ:SENEA) posted its quarterly earnings results on Wednesday. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $1.25, FiscalAI reports. The business had revenue of $492.59 million during the quarter, compared to analyst estimates of $506.00 million. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%.

Seneca Foods Trading Down 5.0%

SENEA stock traded down $7.37 on Thursday, reaching $139.33. The company’s stock had a trading volume of 60,412 shares, compared to its average volume of 103,403. The firm has a market cap of $943.27 million, a PE ratio of 8.00 and a beta of -0.03. The business has a fifty day simple moving average of $178.30 and a two-hundred day simple moving average of $157.52. Seneca Foods has a 12-month low of $99.58 and a 12-month high of $210.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77.

Shares of Seneca Foods are set to split on the morning of Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, November 16th.

Insider Buying and Selling at Seneca Foods

In other Seneca Foods news, VP Dean Erstad sold 1,587 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $206.16, for a total value of $327,175.92. Following the completion of the sale, the vice president directly owned 609 shares in the company, valued at $125,551.44. This trade represents a 72.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Freedom Capital cut shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

About Seneca Foods

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.