Sanderson Farms, Inc. (SAFM) Expected to Announce Quarterly Sales of $829.88 Million

Equities analysts expect Sanderson Farms, Inc. (NASDAQ:SAFM) to post $829.88 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sanderson Farms’ earnings, with the highest sales estimate coming in at $849.76 million and the lowest estimate coming in at $810.00 million. Sanderson Farms reported sales of $813.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to announce its next earnings report on Thursday, May 23rd.

According to Zacks, analysts expect that Sanderson Farms will report full year sales of $3.35 billion for the current year, with estimates ranging from $3.21 billion to $3.50 billion. For the next financial year, analysts expect that the firm will post sales of $3.61 billion, with estimates ranging from $3.54 billion to $3.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.82) by $1.00. The firm had revenue of $743.40 million during the quarter, compared to analyst estimates of $705.25 million. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. Sanderson Farms’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.24 EPS.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. Barclays dropped their price objective on shares of Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 18th. Jefferies Financial Group reaffirmed a “sell” rating and set a $77.00 price objective on shares of Sanderson Farms in a research note on Wednesday, December 19th. ValuEngine downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, BidaskClub raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Sanderson Farms currently has a consensus rating of “Hold” and an average target price of $113.38.

In related news, Director John Bierbusse sold 677 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total transaction of $77,137.38. Following the completion of the transaction, the director now owns 12,675 shares of the company’s stock, valued at $1,444,189.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lampkin Butts sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $127.82, for a total value of $1,278,200.00. Following the transaction, the insider now directly owns 121,611 shares of the company’s stock, valued at approximately $15,544,318.02. The disclosure for this sale can be found here. Company insiders own 5.55% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Sanderson Farms during the fourth quarter worth $34,883,000. Dimensional Fund Advisors LP increased its stake in shares of Sanderson Farms by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock valued at $168,157,000 after acquiring an additional 186,527 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Sanderson Farms by 22.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock valued at $74,705,000 after acquiring an additional 137,978 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Sanderson Farms by 110.5% during the 4th quarter. Deutsche Bank AG now owns 261,489 shares of the company’s stock valued at $25,960,000 after acquiring an additional 137,259 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Sanderson Farms during the 3rd quarter valued at about $13,606,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SAFM traded up $4.25 during trading hours on Thursday, hitting $137.20. 415,398 shares of the stock were exchanged, compared to its average volume of 420,034. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.97 billion, a PE ratio of 45.43 and a beta of 0.78. Sanderson Farms has a 12 month low of $93.98 and a 12 month high of $137.26.

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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