Seneca Foods (NASDAQ:SENEA) Releases Quarterly Earnings Results, Beats Estimates By $1.25 EPS

Seneca Foods (NASDAQ:SENEA) posted its quarterly earnings results on Wednesday. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $3.82 by $1.25, FiscalAI reports. The business had revenue of $492.59 million for the quarter, compared to analyst estimates of $506.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Seneca Foods Trading Down 4.6%

SENEA stock traded down $7.08 during mid-day trading on Wednesday, hitting $146.70. 85,706 shares of the company were exchanged, compared to its average volume of 103,621. Seneca Foods has a 12-month low of $99.58 and a 12-month high of $210.00. The firm has a market capitalization of $993.16 million, a P/E ratio of 8.47 and a beta of -0.03. The business has a fifty day simple moving average of $179.18 and a 200-day simple moving average of $157.38. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Insider Activity at Seneca Foods

In other news, VP Dean Erstad sold 1,587 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $206.16, for a total value of $327,175.92. Following the transaction, the vice president directly owned 609 shares in the company, valued at approximately $125,551.44. This represents a 72.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Weiss Ratings cut shares of Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Finally, Freedom Capital downgraded shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Seneca Foods presently has a consensus rating of “Moderate Buy”.

Seneca Foods Company Profile

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.