Farmer Bros. (NASDAQ:FARM) Issues Earnings Results

Farmer Bros. (NASDAQ:FARM) released its earnings results on Wednesday. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.16), Fidelity Earnings reports. Farmer Bros. had a negative return on equity of 26.90% and a negative net margin of 12.60%. During the same period in the prior year, the firm posted ($0.53) EPS.

Shares of Farmer Bros. stock traded up $0.65 during trading hours on Friday, reaching $8.99. 7,096 shares of the company’s stock were exchanged, compared to its average volume of 240,665. The company has a 50 day moving average of $9.26 and a two-hundred day moving average of $9.95. Farmer Bros. has a fifty-two week low of $3.40 and a fifty-two week high of $13.08. The company has a current ratio of 1.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.07. The stock has a market cap of $160.23 million, a P/E ratio of -3.29 and a beta of 1.64.

An institutional investor recently raised its position in Farmer Bros. stock. Morgan Stanley boosted its position in Farmer Bros. Co. (NASDAQ:FARM) by 4,759.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 87,956 shares of the company’s stock after purchasing an additional 86,146 shares during the period. Morgan Stanley owned about 0.49% of Farmer Bros. worth $1,116,000 as of its most recent filing with the SEC. 57.19% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on FARM. Roth Capital upgraded shares of Farmer Bros. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $14.00 in a research note on Wednesday, September 1st. Zacks Investment Research downgraded shares of Farmer Bros. from a “hold” rating to a “strong sell” rating in a research note on Friday, September 3rd.

Farmer Bros. Company Profile

Farmer Brothers Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products. The company’s products include roasted and liquid coffee; flavored and unflavored teas; coffee related products such as coffee filters, sugar and creamers; culinary products like spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, syrups and sauces; and other beverages including cappuccino, cocoa, granitas, and concentrated and ready-to-drink cold brew and iced coffee.

Read More: Hold Rating

Earnings History for Farmer Bros. (NASDAQ:FARM)

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