Zacks: Brokerages Anticipate Sanderson Farms, Inc. (SAFM) to Announce $1.07 Earnings Per Share

Equities research analysts forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will post earnings of $1.07 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Sanderson Farms’ earnings. The highest EPS estimate is $1.21 and the lowest is $0.71. Sanderson Farms posted earnings per share of $1.02 in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The business is scheduled to issue its next earnings results before the market opens on Thursday, February 22nd.

On average, analysts expect that Sanderson Farms will report full-year earnings of $9.90 per share for the current financial year, with EPS estimates ranging from $7.13 to $11.38. For the next financial year, analysts anticipate that the firm will report earnings of $7.22 per share, with EPS estimates ranging from $4.88 to $9.31. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, December 14th. The company reported $3.20 earnings per share for the quarter, missing the consensus estimate of $3.50 by ($0.30). Sanderson Farms had a net margin of 8.34% and a return on equity of 20.97%. The firm had revenue of $919.90 million during the quarter, compared to the consensus estimate of $916.07 million. During the same period in the prior year, the business posted $3.36 earnings per share. Sanderson Farms’s quarterly revenue was up 16.3% compared to the same quarter last year.

SAFM has been the subject of several analyst reports. Zacks Investment Research cut shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. BMO Capital Markets reaffirmed a “hold” rating and set a $150.00 price objective on shares of Sanderson Farms in a research report on Friday, October 13th. Mizuho set a $150.00 price objective on shares of Sanderson Farms and gave the stock a “hold” rating in a research report on Monday, October 16th. KeyCorp initiated coverage on shares of Sanderson Farms in a research report on Tuesday, October 31st. They set a “sector weight” rating for the company. Finally, Morgan Stanley initiated coverage on shares of Sanderson Farms in a research report on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $137.80.

Sanderson Farms (NASDAQ SAFM) opened at $125.25 on Monday. Sanderson Farms has a 52 week low of $87.54 and a 52 week high of $176.43. The firm has a market cap of $2,867.56, a price-to-earnings ratio of 10.25 and a beta of 0.47.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th will be given a $0.32 dividend. The ex-dividend date is Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. Sanderson Farms’s payout ratio is presently 10.45%.

In other news, Director Jones Gail Pittman sold 260 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in Sanderson Farms by 1.4% in the second quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock valued at $318,000 after purchasing an additional 39 shares in the last quarter. Advisor Group Inc. raised its stake in Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after purchasing an additional 62 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Sanderson Farms by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 16,426 shares of the company’s stock valued at $1,900,000 after purchasing an additional 170 shares in the last quarter. Nuance Investments LLC raised its stake in Sanderson Farms by 1.8% in the fourth quarter. Nuance Investments LLC now owns 26,128 shares of the company’s stock valued at $3,626,000 after purchasing an additional 472 shares in the last quarter. Finally, ING Groep NV raised its stake in Sanderson Farms by 23.2% in the fourth quarter. ING Groep NV now owns 3,020 shares of the company’s stock valued at $419,000 after purchasing an additional 569 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

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About Sanderson Farms

Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.

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

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