Sanderson Farms, Inc. (NASDAQ:SAFM) Expected to Post Earnings of $2.29 Per Share


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Wall Street brokerages forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce earnings per share (EPS) of $2.29 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sanderson Farms’ earnings. The lowest EPS estimate is $1.40 and the highest is $3.33. Sanderson Farms posted earnings of ($1.43) per share during the same quarter last year, which would indicate a positive year over year growth rate of 260.1%. The business is expected to report its next earnings results on Thursday, May 27th.

According to Zacks, analysts expect that Sanderson Farms will report full-year earnings of $9.52 per share for the current financial year, with EPS estimates ranging from $7.91 to $12.16. For the next financial year, analysts anticipate that the firm will report earnings of $10.54 per share, with EPS estimates ranging from $9.05 to $11.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.73) by $1.15. Sanderson Farms had a negative return on equity of 0.66% and a net margin of 0.79%. The firm had revenue of $909.31 million during the quarter, compared to the consensus estimate of $880.07 million.

A number of equities research analysts have issued reports on SAFM shares. Stephens cut Sanderson Farms from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 16th. Barclays boosted their price target on Sanderson Farms from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 26th. Credit Suisse Group upped their price objective on Sanderson Farms from $120.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, March 4th. TheStreet raised Sanderson Farms from a “c” rating to a “b-” rating in a report on Tuesday, January 19th. Finally, BMO Capital Markets raised shares of Sanderson Farms from a “market perform” rating to an “outperform” rating and increased their target price for the company from $132.00 to $163.00 in a research note on Thursday, January 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $154.25.

NASDAQ SAFM traded down $0.67 during trading hours on Tuesday, hitting $168.15. The company’s stock had a trading volume of 111,823 shares, compared to its average volume of 186,544. The company’s 50 day simple moving average is $161.78 and its two-hundred day simple moving average is $144.58. The company has a market cap of $3.75 billion, a P/E ratio of 133.43, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57. Sanderson Farms has a 12 month low of $108.57 and a 12 month high of $170.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.58 and a quick ratio of 1.29.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 18th. Shareholders of record on Tuesday, May 4th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, May 3rd. Sanderson Farms’s payout ratio is -429.27%.

In related news, Director Phil K. Livingston sold 700 shares of the firm’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $156.68, for a total transaction of $109,676.00. Following the completion of the sale, the director now directly owns 9,788 shares in the company, valued at $1,533,583.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Toni D. Cooley sold 2,551 shares of Sanderson Farms stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $160.53, for a total transaction of $409,512.03. Following the sale, the director now owns 25,568 shares of the company’s stock, valued at $4,104,431.04. The disclosure for this sale can be found here. Company insiders own 5.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dean Investment Associates LLC boosted its stake in shares of Sanderson Farms by 55.3% in the first quarter. Dean Investment Associates LLC now owns 9,450 shares of the company’s stock valued at $1,472,000 after purchasing an additional 3,366 shares during the period. Victory Capital Management Inc. raised its holdings in Sanderson Farms by 7.8% during the first quarter. Victory Capital Management Inc. now owns 846,094 shares of the company’s stock worth $131,804,000 after purchasing an additional 61,341 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in Sanderson Farms by 0.5% during the first quarter. Chartwell Investment Partners LLC now owns 119,862 shares of the company’s stock worth $18,672,000 after purchasing an additional 636 shares in the last quarter. State of Michigan Retirement System raised its holdings in Sanderson Farms by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,409 shares of the company’s stock worth $1,154,000 after purchasing an additional 200 shares in the last quarter. Finally, We Are One Seven LLC increased its holdings in shares of Sanderson Farms by 23.6% in the 1st quarter. We Are One Seven LLC now owns 3,993 shares of the company’s stock valued at $622,000 after acquiring an additional 763 shares during the period. 85.77% of the stock is owned by institutional investors and hedge funds.

About Sanderson Farms

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

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Earnings History and Estimates for Sanderson Farms (NASDAQ:SAFM)

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