Farmer Bros (FARM) Announces Earnings Results

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Farmer Bros (NASDAQ:FARM) issued its quarterly earnings results on Monday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.14), Morningstar.com reports. Farmer Bros had a negative return on equity of 0.57% and a negative net margin of 4.10%. The business had revenue of $159.77 million during the quarter, compared to analysts’ expectations of $162.79 million.

FARM stock traded down $2.47 during trading on Tuesday, reaching $23.26. The company’s stock had a trading volume of 912 shares, compared to its average volume of 42,161. Farmer Bros has a 1 year low of $22.02 and a 1 year high of $33.95. The firm has a market capitalization of $420.43 million, a PE ratio of 178.68, a PEG ratio of 17.60 and a beta of 0.18.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Farmer Bros by 12.8% during the second quarter. BlackRock Inc. now owns 664,180 shares of the company’s stock valued at $20,291,000 after purchasing an additional 75,313 shares in the last quarter. Northern Trust Corp grew its position in shares of Farmer Bros by 8.0% during the second quarter. Northern Trust Corp now owns 185,673 shares of the company’s stock valued at $5,672,000 after purchasing an additional 13,733 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Farmer Bros by 6.1% during the third quarter. Russell Investments Group Ltd. now owns 524,393 shares of the company’s stock valued at $13,843,000 after purchasing an additional 30,254 shares in the last quarter. US Bancorp DE grew its position in shares of Farmer Bros by 5.8% during the third quarter. US Bancorp DE now owns 45,448 shares of the company’s stock valued at $1,200,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Teton Advisors Inc. grew its position in shares of Farmer Bros by 5.5% during the third quarter. Teton Advisors Inc. now owns 252,554 shares of the company’s stock valued at $6,667,000 after purchasing an additional 13,200 shares in the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

A number of equities research analysts have issued reports on the company. BidaskClub lowered Farmer Bros from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. ValuEngine lowered Farmer Bros from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Zacks Investment Research lowered Farmer Bros from a “hold” rating to a “strong sell” rating in a research note on Friday, November 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Farmer Bros presently has a consensus rating of “Hold” and a consensus target price of $33.75.

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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 for Farmer Bros (NASDAQ:FARM)

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