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

Wall Street brokerages forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce sales of $830.34 million for the current quarter, according to Zacks. Three analysts have provided estimates for Sanderson Farms’ earnings. The lowest sales estimate is $805.90 million and the highest is $858.31 million. Sanderson Farms reported sales of $802.04 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is scheduled to report its next quarterly earnings report on Thursday, May 24th.

On average, analysts expect that Sanderson Farms will report full year sales of $830.34 million for the current financial year, with estimates ranging from $3.37 billion to $3.49 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.62 billion per share, with estimates ranging from $3.55 billion to $3.66 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sanderson Farms.

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Sanderson Farms (NASDAQ:SAFM) last posted 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 net margin of 8.96% and a return on equity of 19.30%. The firm had revenue of $771.90 million for the quarter, compared to the consensus estimate of $764.22 million. During the same quarter in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year.

A number of equities research analysts recently commented on SAFM shares. Zacks Investment Research upgraded shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, December 7th. Barclays reissued an “equal weight” rating and set a $150.00 price objective (up from $136.00) on shares of Sanderson Farms in a research report on Thursday, December 14th. BMO Capital Markets reissued a “hold” rating and set a $140.00 price objective on shares of Sanderson Farms in a research report on Monday, December 18th. BidaskClub downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Buckingham Research started coverage on shares of Sanderson Farms in a research report on Wednesday, February 21st. They set a “neutral” rating and a $122.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $129.18.

Shares of Sanderson Farms (NASDAQ:SAFM) opened at $122.11 on Tuesday. Sanderson Farms has a 1-year low of $92.37 and a 1-year high of $176.43. The company has a market cap of $2,790.00, a price-to-earnings ratio of 10.32 and a beta of 0.49.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, January 30th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, January 29th. Sanderson Farms’s payout ratio is currently 10.82%.

In other news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Bierbusse sold 750 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.38, for a total transaction of $90,285.00. Following the completion of the sale, the director now directly owns 12,944 shares in the company, valued at $1,558,198.72. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position 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 worth $304,466,000 after buying an additional 102,488 shares during the period. Renaissance Technologies LLC grew its position in shares of Sanderson Farms by 39.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock worth $248,391,000 after buying an additional 501,917 shares during the period. LSV Asset Management grew its position in shares of Sanderson Farms by 0.9% in the 4th quarter. LSV Asset Management now owns 1,137,916 shares of the company’s stock worth $157,919,000 after buying an additional 10,500 shares during the period. Acadian Asset Management LLC grew its position in shares of Sanderson Farms by 11.2% in the 4th quarter. Acadian Asset Management LLC now owns 692,119 shares of the company’s stock worth $96,048,000 after buying an additional 69,797 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Sanderson Farms by 22.4% in the 3rd quarter. Prudential Financial Inc. now owns 504,876 shares of the company’s stock worth $81,547,000 after buying an additional 92,497 shares during the period.

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Sanderson Farms Company Profile

Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.

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

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