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

Equities analysts forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce sales of $1.10 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sanderson Farms’ earnings. The highest sales estimate is $1.11 billion and the lowest is $1.08 billion. Sanderson Farms reported sales of $844.71 million during the same quarter last year, which suggests a positive year over year growth rate of 30.2%. The company is expected to announce its next earnings results on Thursday, May 27th.

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

Sanderson Farms (NASDAQ:SAFM) last issued its earnings results on Thursday, February 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $1.15. The company had revenue of $909.31 million for the quarter, compared to the consensus estimate of $880.07 million. Sanderson Farms had a negative return on equity of 0.66% and a net margin of 0.79%.

Several analysts recently issued reports on SAFM shares. Credit Suisse Group lifted their target price on Sanderson Farms from $120.00 to $148.00 and gave the company a “neutral” rating in a research note on Thursday, March 4th. Barclays raised their price target on Sanderson Farms from $163.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 26th. BMO Capital Markets upgraded Sanderson Farms from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $163.00 in a report on Thursday, January 21st. TheStreet raised Sanderson Farms from a “c” rating to a “b-” rating in a research report on Tuesday, January 19th. Finally, Stephens lowered Sanderson Farms from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $154.25.

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

A number of hedge funds have recently made changes to their positions in the stock. Dean Investment Associates LLC grew its stake in Sanderson Farms by 55.3% during the 1st quarter. Dean Investment Associates LLC now owns 9,450 shares of the company’s stock worth $1,472,000 after buying an additional 3,366 shares during the last quarter. Victory Capital Management Inc. grew its stake in Sanderson Farms by 7.8% during the 1st quarter. Victory Capital Management Inc. now owns 846,094 shares of the company’s stock worth $131,804,000 after buying an additional 61,341 shares during the last quarter. Chartwell Investment Partners LLC grew its stake in Sanderson Farms by 0.5% during the 1st quarter. Chartwell Investment Partners LLC now owns 119,862 shares of the company’s stock worth $18,672,000 after buying an additional 636 shares during the last quarter. State of Michigan Retirement System grew its stake in Sanderson Farms by 2.8% during the 1st quarter. State of Michigan Retirement System now owns 7,409 shares of the company’s stock worth $1,154,000 after buying an additional 200 shares during the last quarter. Finally, We Are One Seven LLC grew its stake in Sanderson Farms by 23.6% during the 1st quarter. We Are One Seven LLC now owns 3,993 shares of the company’s stock worth $622,000 after buying an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.

SAFM traded down $0.67 on Thursday, hitting $168.15. 111,823 shares of the company’s stock traded hands, compared to its average volume of 186,544. The company’s 50 day simple moving average is $161.78 and its 200-day simple moving average is $144.58. The firm has a market cap of $3.75 billion, a price-to-earnings 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 company has a current ratio of 2.58, a quick ratio of 1.29 and a debt-to-equity ratio of 0.02.

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

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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