Smithfield Foods, Inc. (NASDAQ:SFD – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.3125 per share on Wednesday, November 25th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Thursday, November 12th.
Smithfield Foods has a payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Smithfield Foods to earn $1.50 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 83.3%.
Smithfield Foods Price Performance
Shares of SFD opened at $18.34 on Friday. The firm has a market capitalization of $7.22 billion, a PE ratio of 8.04 and a beta of -0.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.39 and a quick ratio of 1.34. Smithfield Foods has a 1-year low of $17.91 and a 1-year high of $29.81. The company’s fifty day moving average price is $19.75 and its 200-day moving average price is $24.00.
Smithfield Foods (NASDAQ:SFD – Get Free Report) last issued its earnings results on Tuesday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. Smithfield Foods had a return on equity of 13.41% and a net margin of 5.94%. The company had revenue of $3.44 billion during the quarter. During the same quarter last year, the business earned $0.58 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, equities research analysts predict that Smithfield Foods will post 1.77 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Bank of America lowered Smithfield Foods from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Friday, October 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $32.00 target price on shares of Smithfield Foods in a report on Wednesday, August 12th. Stephens reiterated a “reduce” rating on shares of Smithfield Foods in a research report on Wednesday. Zacks Research downgraded shares of Smithfield Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Barclays reduced their price target on shares of Smithfield Foods from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.67.
Get Our Latest Analysis on SFD
Smithfield Foods Company Profile
Smithfield Foods, Inc is a food company engaged in pork production and the manufacture and sale of packaged meats. Its operations include hog production, fresh pork processing, and the preparation of bacon, ham, sausage, hot dogs, deli meats and other ready-to-cook or ready-to-eat products.
The company sells products under brands that include Smithfield, Eckrich, Nathan’s Famous and Farmland, as well as through private-label and foodservice channels. Its products are distributed through grocery retailers, restaurants, foodservice operators and other commercial customers in the United States and international markets.
Founded in Smithfield, Virginia, in 1936, Smithfield Foods expanded through acquisitions and became one of the world’s largest pork processors and hog producers.
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