$153.03 Million in Sales Expected for Farmer Bros Co (FARM) This Quarter

Equities research analysts forecast that Farmer Bros Co (NASDAQ:FARM) will post sales of $153.03 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Farmer Bros’ earnings. The highest sales estimate is $154.10 million and the lowest is $151.96 million. Farmer Bros posted sales of $157.93 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The business is expected to announce its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Farmer Bros will report full-year sales of $610.37 million for the current financial year, with estimates ranging from $607.74 million to $613.00 million. For the next year, analysts forecast that the company will post sales of $629.11 million, with estimates ranging from $620.42 million to $637.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Farmer Bros.

Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Monday, February 11th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.14). The company had revenue of $159.77 million for the quarter, compared to analysts’ expectations of $162.79 million. Farmer Bros had a negative return on equity of 2.67% and a negative net margin of 2.74%.

Several brokerages have recently weighed in on FARM. ValuEngine lowered shares of Farmer Bros from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Zacks Investment Research lowered shares of Farmer Bros from a “hold” rating to a “strong sell” rating in a report on Thursday, February 14th. Finally, BidaskClub lowered shares of Farmer Bros from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Farmer Bros presently has a consensus rating of “Hold” and an average target price of $33.75.

Shares of FARM stock traded down $0.26 during trading hours on Friday, hitting $19.84. 225,144 shares of the company were exchanged, compared to its average volume of 67,462. The firm has a market cap of $361.30 million, a P/E ratio of 152.62 and a beta of 0.15. Farmer Bros has a 1 year low of $19.17 and a 1 year high of $31.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 0.93.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Farmer Bros by 44.3% during the 4th quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock worth $55,000 after purchasing an additional 726 shares in the last quarter. Portolan Capital Management LLC increased its position in Farmer Bros by 0.3% during the 4th quarter. Portolan Capital Management LLC now owns 268,589 shares of the company’s stock worth $6,266,000 after purchasing an additional 887 shares in the last quarter. Bank of America Corp DE increased its position in Farmer Bros by 39.3% during the 4th quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock worth $177,000 after purchasing an additional 2,137 shares in the last quarter. MetLife Investment Advisors LLC increased its position in Farmer Bros by 63.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in Farmer Bros by 389.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock worth $73,000 after purchasing an additional 2,502 shares in the last quarter. 60.08% of the stock is owned by hedge funds and other institutional investors.

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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