Analysts predict that Farmer Bros Co (NASDAQ:FARM) will announce ($0.37) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Farmer Bros’ earnings. Farmer Bros posted earnings per share of ($0.18) in the same quarter last year, which would indicate a negative year-over-year growth rate of 105.6%. The firm is expected to announce its next earnings report on Wednesday, November 6th.
On average, analysts expect that Farmer Bros will report full year earnings of ($0.53) per share for the current fiscal year. For the next financial year, analysts forecast that the business will report earnings of ($0.17) per share, with EPS estimates ranging from ($0.26) to ($0.08). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Farmer Bros.
Farmer Bros (NASDAQ:FARM) last announced its earnings results on Tuesday, September 10th. The company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.37). Farmer Bros had a negative return on equity of 9.51% and a negative net margin of 12.35%. The firm had revenue of $142.05 million for the quarter, compared to the consensus estimate of $146.90 million.
FARM has been the topic of several recent analyst reports. Zacks Investment Research cut Farmer Bros from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Lake Street Capital decreased their price target on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Roth Capital decreased their price target on shares of Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Finally, BidaskClub lowered shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $12.17.
In other Farmer Bros news, major shareholder Levin Easterly Partners Llc purchased 9,342 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $16.47 per share, for a total transaction of $153,862.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randy E. Clark purchased 3,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $14.11 per share, for a total transaction of $42,330.00. Following the transaction, the director now owns 21,928 shares of the company’s stock, valued at approximately $309,404.08. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 16,871 shares of company stock worth $259,561. 10.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in Farmer Bros by 123.2% in the second quarter. Russell Investments Group Ltd. now owns 2,773,197 shares of the company’s stock worth $45,393,000 after buying an additional 1,530,752 shares during the last quarter. Trigran Investments Inc. grew its position in Farmer Bros by 12.8% during the 2nd quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock worth $32,286,000 after purchasing an additional 223,041 shares in the last quarter. BlackRock Inc. grew its position in Farmer Bros by 10.4% during the 2nd quarter. BlackRock Inc. now owns 771,123 shares of the company’s stock worth $12,623,000 after purchasing an additional 72,842 shares in the last quarter. Granite Investment Partners LLC grew its position in Farmer Bros by 21.6% during the 1st quarter. Granite Investment Partners LLC now owns 507,599 shares of the company’s stock worth $10,157,000 after purchasing an additional 90,019 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Farmer Bros by 13.9% during the 2nd quarter. Renaissance Technologies LLC now owns 469,400 shares of the company’s stock worth $7,684,000 after purchasing an additional 57,200 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.
Shares of NASDAQ:FARM opened at $13.77 on Wednesday. Farmer Bros has a 12 month low of $10.26 and a 12 month high of $26.25. The stock has a market cap of $235.33 million, a price-to-earnings ratio of -12.75 and a beta of 0.22. The stock’s 50 day moving average price is $13.01 and its 200 day moving average price is $16.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 0.75.
About Farmer Bros
Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink cold brew and iced coffee.
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