Brokerages expect Farmer Bros Co (NASDAQ:FARM) to post $145.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Farmer Bros’ earnings, with the highest sales estimate coming in at $148.85 million and the lowest estimate coming in at $141.50 million. Farmer Bros posted sales of $131.71 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The company is scheduled to report its next earnings report on Tuesday, November 6th.
On average, analysts expect that Farmer Bros will report full-year sales of $626.07 million for the current year, with estimates ranging from $621.70 million to $630.43 million. For the next year, analysts expect that the business will report sales of $648.12 million, with estimates ranging from $642.33 million to $653.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Farmer Bros.
A number of equities analysts have weighed in on FARM shares. BidaskClub lowered shares of Farmer Bros from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, B. Riley cut their target price on shares of Farmer Bros from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.75.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Farmer Bros by 171.3% in the first quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after acquiring an additional 3,958 shares during the period. Suntrust Banks Inc. bought a new position in shares of Farmer Bros in the first quarter valued at approximately $259,000. Barclays PLC boosted its position in shares of Farmer Bros by 27.7% in the first quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after acquiring an additional 2,393 shares during the period. First Trust Advisors LP boosted its position in shares of Farmer Bros by 18.2% in the second quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after acquiring an additional 1,860 shares during the period. Finally, Swiss National Bank boosted its position in shares of Farmer Bros by 24.4% in the second quarter. Swiss National Bank now owns 20,900 shares of the company’s stock valued at $638,000 after acquiring an additional 4,100 shares during the period. Institutional investors own 60.25% of the company’s stock.
Shares of NASDAQ:FARM opened at $24.46 on Tuesday. The stock has a market cap of $447.60 million, a price-to-earnings ratio of 188.15, a price-to-earnings-growth ratio of 10.48 and a beta of 0.22. Farmer Bros has a twelve month low of $23.60 and a twelve month high of $35.05.
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 iced coffee.
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