$1.10 Billion in Sales Expected for Sanderson Farms, Inc. (NASDAQ:SAFM) This Quarter


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Equities analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to post $1.10 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Sanderson Farms’ earnings, with the lowest sales estimate coming in at $1.08 billion and the highest estimate coming in at $1.11 billion. Sanderson Farms reported sales of $844.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.2%. The company is scheduled to report its next quarterly earnings report on Thursday, May 27th.

According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $4.25 billion for the current year, with estimates ranging from $4.13 billion to $4.36 billion. For the next financial year, analysts forecast that the company will report sales of $4.38 billion, with estimates ranging from $4.28 billion to $4.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Sanderson Farms.

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

Several equities analysts have commented on SAFM shares. BMO Capital Markets raised Sanderson Farms from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $163.00 in a research report on Thursday, January 21st. Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating and set a $173.00 target price for the company. in a report on Monday. TheStreet upgraded Sanderson Farms from a “c” rating to a “b-” rating in a report on Tuesday, January 19th. Barclays upped their price objective on shares of Sanderson Farms from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 26th. Finally, Credit Suisse Group boosted their target price on shares of Sanderson Farms from $120.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, March 4th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $154.25.

Shares of Sanderson Farms stock traded down $0.67 during trading hours on Thursday, reaching $168.15. The company’s stock had a trading volume of 111,823 shares, compared to its average volume of 186,544. 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 firm has a 50 day moving average price of $161.78 and a 200-day moving average price of $144.58. The stock has a market cap of $3.75 billion, a P/E ratio of 133.43, a P/E/G ratio of 1.01 and a beta of 0.57. Sanderson Farms has a one year low of $108.57 and a one year high of $170.88.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, May 3rd. This represents a $1.76 annualized dividend and a yield of 1.05%. Sanderson Farms’s dividend payout ratio (DPR) is presently -429.27%.

In other news, Director Toni D. Cooley sold 2,551 shares of the company’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $160.53, for a total value of $409,512.03. Following the sale, the director now owns 25,568 shares in the company, valued at $4,104,431.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phil K. Livingston sold 700 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $156.68, for a total value of $109,676.00. Following the completion of the sale, the director now owns 9,788 shares in the company, valued at approximately $1,533,583.84. The disclosure for this sale can be found here. Insiders own 5.38% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in shares of Sanderson Farms by 16.9% in the 3rd quarter. Morgan Stanley now owns 17,957 shares of the company’s stock valued at $2,118,000 after purchasing an additional 2,592 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Sanderson Farms by 1.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 10,313 shares of the company’s stock worth $1,217,000 after acquiring an additional 177 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Sanderson Farms during the 3rd quarter valued at about $1,445,000. Brinker Capital Investments LLC acquired a new stake in shares of Sanderson Farms during the 3rd quarter valued at about $733,000. Finally, Virtu Financial LLC purchased a new position in shares of Sanderson Farms in the 3rd quarter valued at about $512,000. Institutional investors and hedge funds own 85.77% of the company’s stock.

Sanderson Farms Company Profile

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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