Farmer Bros (NASDAQ:FARM) Releases Quarterly Earnings Results, Misses Expectations By $0.37 EPS

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Farmer Bros (NASDAQ:FARM) posted its quarterly earnings results on Tuesday. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.37), Morningstar.com reports. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The business had revenue of $142.05 million during the quarter, compared to the consensus estimate of $146.90 million.

NASDAQ FARM opened at $11.77 on Thursday. The company has a quick ratio of 0.93, a current ratio of 2.03 and a debt-to-equity ratio of 0.74. The firm has a market cap of $224.25 million, a PE ratio of 90.54, a price-to-earnings-growth ratio of 7.83 and a beta of 0.13. The company has a 50 day moving average price of $13.69 and a 200 day moving average price of $18.15. Farmer Bros has a 52 week low of $10.26 and a 52 week high of $29.50.

In other news, major shareholder Levin Easterly Partners Llc acquired 94,497 shares of Farmer Bros stock in a transaction that occurred on Wednesday, June 19th. The stock was purchased at an average price of $17.02 per share, for a total transaction of $1,608,338.94. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have purchased 111,260 shares of company stock valued at $1,878,262. 10.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Farmer Bros by 123.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,773,197 shares of the company’s stock valued at $45,393,000 after purchasing an additional 1,530,752 shares in the last quarter. Trigran Investments Inc. increased its stake in Farmer Bros by 12.8% during the 2nd quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock valued at $32,286,000 after purchasing an additional 223,041 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Farmer Bros by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 929,387 shares of the company’s stock valued at $21,682,000 after purchasing an additional 10,015 shares in the last quarter. BlackRock Inc. increased its stake in Farmer Bros by 10.4% during the 2nd quarter. BlackRock Inc. now owns 771,123 shares of the company’s stock valued at $12,623,000 after purchasing an additional 72,842 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in Farmer Bros by 21.6% during the 1st quarter. Granite Investment Partners LLC now owns 507,599 shares of the company’s stock valued at $10,157,000 after purchasing an additional 90,019 shares in the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. B. Riley reduced their price objective on shares of Farmer Bros from $21.00 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday. Lake Street Capital reduced their price objective on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BidaskClub lowered shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Farmer Bros presently has an average rating of “Hold” and a consensus target price of $15.17.

About Farmer Bros

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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