Sanderson Farms (SAFM) Releases Quarterly Earnings Results, Misses Estimates By $0.54 EPS

Sanderson Farms (NASDAQ:SAFM) posted its quarterly earnings results on Thursday. The company reported ($1.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.54), Bloomberg Earnings reports. Sanderson Farms had a return on equity of 2.10% and a net margin of 1.90%. The business had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $787.31 million. During the same quarter in the prior year, the firm earned $3.20 EPS. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year.

Sanderson Farms stock opened at $96.85 on Friday. The firm has a market cap of $2.35 billion, a P/E ratio of 78.57 and a beta of 0.39. Sanderson Farms has a one year low of $94.57 and a one year high of $142.85.

A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Sanderson Farms by 101.0% during the third quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock valued at $100,000 after acquiring an additional 491 shares during the last quarter. Riverhead Capital Management LLC increased its position in Sanderson Farms by 26.6% during the third quarter. Riverhead Capital Management LLC now owns 2,383 shares of the company’s stock valued at $246,000 after acquiring an additional 500 shares during the last quarter. American International Group Inc. increased its position in Sanderson Farms by 1.2% during the third quarter. American International Group Inc. now owns 54,039 shares of the company’s stock valued at $5,586,000 after acquiring an additional 663 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Sanderson Farms by 4.5% in the second quarter. Mutual of America Capital Management LLC now owns 17,277 shares of the company’s stock worth $1,817,000 after buying an additional 748 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its position in Sanderson Farms by 4.0% in the second quarter. MetLife Investment Advisors LLC now owns 21,992 shares of the company’s stock worth $2,312,000 after buying an additional 850 shares in the last quarter. Institutional investors own 98.12% of the company’s stock.

Several research firms have recently weighed in on SAFM. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Saturday, October 13th. Stephens upgraded Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, August 24th. ValuEngine upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Barclays decreased their price target on Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, TheStreet cut Sanderson Farms from a “b” rating to a “c+” rating in a research note on Wednesday, August 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Sanderson Farms currently has a consensus rating of “Hold” and a consensus price target of $97.67.

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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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Earnings History for Sanderson Farms (NASDAQ:SAFM)

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