Equities research analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to announce sales of $792.76 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sanderson Farms’ earnings. The highest sales estimate is $843.52 million and the lowest is $742.00 million. Sanderson Farms posted sales of $919.94 million in the same quarter last year, which suggests a negative year over year growth rate of 13.8%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, December 13th.
On average, analysts expect that Sanderson Farms will report full year sales of $3.23 billion for the current financial year, with estimates ranging from $3.18 billion to $3.28 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.35 billion, with estimates ranging from $3.30 billion to $3.41 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($1.17). Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The business had revenue of $852.40 million for the quarter, compared to the consensus estimate of $871.06 million. During the same period in the previous year, the firm earned $5.09 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year.
SAFM traded up $1.54 during trading on Friday, reaching $108.93. 81,455 shares of the company’s stock were exchanged, compared to its average volume of 310,479. Sanderson Farms has a one year low of $95.97 and a one year high of $176.43. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.86 and a beta of 0.38.
In other news, Director Phil K. Livingston sold 500 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $107.14, for a total transaction of $53,570.00. Following the sale, the director now owns 9,682 shares in the company, valued at approximately $1,037,329.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Sanderson Farms by 101.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after purchasing an additional 491 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Sanderson Farms by 5,238.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after purchasing an additional 1,100 shares in the last quarter. Sun Life Financial INC bought a new position in Sanderson Farms in the 2nd quarter worth about $127,000. Parallel Advisors LLC boosted its stake in Sanderson Farms by 89.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock worth $132,000 after purchasing an additional 593 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Sanderson Farms by 346.3% in the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after purchasing an additional 1,233 shares in the last quarter. Hedge funds and other institutional investors own 96.43% of the company’s stock.
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 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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