Farmer Brothers (NASDAQ:FARM) Posts Quarterly Earnings Results

Farmer Brothers (NASDAQ:FARM) posted its earnings results on Friday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.08), Zacks reports. The company had revenue of $88.92 million for the quarter, compared to analysts’ expectations of $90.47 million. Farmer Brothers had a negative return on equity of 13.80% and a negative net margin of 4.00%.

Farmer Brothers Price Performance

Shares of Farmer Brothers stock traded down $0.06 on Friday, hitting $1.54. 331,773 shares of the company traded hands, compared to its average volume of 72,841. Farmer Brothers has a 12-month low of $1.34 and a 12-month high of $3.29. The company has a current ratio of 1.24, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. The company has a market cap of $33.26 million, a P/E ratio of -2.44 and a beta of 1.27. The firm’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.68.

Institutional Investors Weigh In On Farmer Brothers

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in Farmer Brothers by 152.2% in the 1st quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock worth $91,000 after acquiring an additional 24,820 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Farmer Brothers by 210.2% in the second quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock worth $58,000 after purchasing an additional 28,661 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Farmer Brothers by 253.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company’s stock valued at $153,000 after purchasing an additional 49,374 shares during the period. Finally, Gabelli Funds LLC raised its position in Farmer Brothers by 2.3% during the 2nd quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock valued at $373,000 after purchasing an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 64.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FARM shares. Roth Mkm decreased their price target on Farmer Brothers from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Zacks Research raised shares of Farmer Brothers from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Farmer Brothers in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.75.

Farmer Brothers Company Profile

Farmer Brothers Company (NASDAQ: FARM) is a specialty coffee roaster and distributor that serves the foodservice, hospitality and office coffee markets across the United States. The company produces and delivers coffee, tea, single-serve products and beverage equipment, supporting its customers with supply chain solutions, equipment maintenance and barista training services. Its operations are organized to serve commercial accounts ranging from national restaurant chains and convenience stores to independent coffee shops and corporate offices.

Founded in 1912 in Texas, Farmer Brothers has grown from a regional roaster into a national supplier with a network of manufacturing and distribution facilities.