Brokerages Anticipate Sanderson Farms, Inc. (SAFM) Will Announce Quarterly Sales of $830.34 Million

Brokerages expect Sanderson Farms, Inc. (NASDAQ:SAFM) to report $830.34 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Sanderson Farms’ earnings, with the lowest sales estimate coming in at $805.90 million and the highest estimate coming in at $858.31 million. Sanderson Farms posted sales of $802.04 million in the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The business is scheduled to report its next earnings report on Thursday, May 24th.

On average, analysts expect that Sanderson Farms will report full year sales of $3.44 billion for the current fiscal year, with estimates ranging from $3.37 billion to $3.49 billion. For the next fiscal year, analysts expect that the business will post sales of $3.62 billion per share, with estimates ranging from $3.55 billion to $3.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The company had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $764.22 million. During the same period in the prior year, the firm earned $1.02 EPS. Sanderson Farms’s quarterly revenue was up 12.1% on a year-over-year basis.

A number of research firms have commented on SAFM. Morgan Stanley reissued a “hold” rating and issued a $115.00 price target (down previously from $140.00) on shares of Sanderson Farms in a research note on Tuesday, February 27th. BidaskClub cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price target on shares of Sanderson Farms in a research note on Friday, February 16th. Vertical Group raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase cut their price target on shares of Sanderson Farms to $110.00 and set an “underweight” rating for the company in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $128.30.

SAFM stock opened at $112.58 on Monday. Sanderson Farms has a one year low of $107.09 and a one year high of $176.43. The company has a market capitalization of $2,541.16, a price-to-earnings ratio of 9.15 and a beta of 0.49.

In other news, Director John Bierbusse sold 750 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.38, for a total value of $90,285.00. Following the completion of the sale, the director now owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Sanderson Farms by 4.9% in the 4th quarter. BlackRock Inc. now owns 2,193,866 shares of the company’s stock valued at $304,466,000 after purchasing an additional 102,488 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock valued at $248,391,000 after buying an additional 501,917 shares during the period. LSV Asset Management boosted its position in Sanderson Farms by 0.9% during the 4th quarter. LSV Asset Management now owns 1,137,916 shares of the company’s stock valued at $157,919,000 after buying an additional 10,500 shares during the period. Acadian Asset Management LLC boosted its position in Sanderson Farms by 11.2% during the 4th quarter. Acadian Asset Management LLC now owns 692,119 shares of the company’s stock valued at $96,048,000 after buying an additional 69,797 shares during the period. Finally, Prudential Financial Inc. boosted its position in Sanderson Farms by 22.4% during the 3rd quarter. Prudential Financial Inc. now owns 504,876 shares of the company’s stock valued at $81,547,000 after buying an additional 92,497 shares during the period.

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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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.

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

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