Equities research analysts predict that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce sales of $1.30 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sanderson Farms’ earnings. The lowest sales estimate is $1.29 billion and the highest is $1.30 billion. Sanderson Farms posted sales of $956.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.9%. The company is scheduled to report its next quarterly earnings report on Thursday, August 26th.
On average, analysts expect that Sanderson Farms will report full-year sales of $4.50 billion for the current fiscal year, with estimates ranging from $4.46 billion to $4.53 billion. For the next financial year, analysts forecast that the business will post sales of $4.47 billion, with estimates ranging from $4.38 billion to $4.56 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Wednesday, May 26th. The company reported $4.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $2.05. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. Sanderson Farms had a net margin of 2.09% and a return on equity of 2.77%. Sanderson Farms’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the company posted ($1.43) EPS.
In related news, Director Toni D. Cooley sold 2,551 shares of the firm’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $160.53, for a total value of $409,512.03. Following the completion of the transaction, the director now directly owns 25,568 shares of the company’s stock, valued at $4,104,431.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.36% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Jackson Creek Investment Advisors LLC bought a new position in Sanderson Farms during the first quarter worth $1,128,000. Principal Financial Group Inc. boosted its position in Sanderson Farms by 14.7% during the first quarter. Principal Financial Group Inc. now owns 70,754 shares of the company’s stock worth $11,022,000 after purchasing an additional 9,071 shares during the period. Paloma Partners Management Co bought a new position in Sanderson Farms during the first quarter worth $616,000. Millennium Management LLC boosted its position in Sanderson Farms by 2,384.5% during the first quarter. Millennium Management LLC now owns 170,360 shares of the company’s stock worth $26,539,000 after purchasing an additional 163,503 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Sanderson Farms during the first quarter worth $1,107,000. 80.27% of the stock is owned by hedge funds and other institutional investors.
SAFM stock traded up $2.05 during mid-day trading on Friday, hitting $165.46. 208,968 shares of the company were exchanged, compared to its average volume of 189,607. The company has a current ratio of 2.55, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 47.93, a P/E/G ratio of 0.41 and a beta of 0.66. The business has a 50 day simple moving average of $165.82. Sanderson Farms has a 1-year low of $108.57 and a 1-year high of $177.48.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.06%. Sanderson Farms’s dividend payout ratio is presently -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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