Wall Street analysts predict that Farmer Bros Co (NASDAQ:FARM) will announce sales of $153.03 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Farmer Bros’ earnings. The lowest sales estimate is $151.96 million and the highest is $154.10 million. Farmer Bros reported sales of $157.93 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The business is expected to announce its next earnings results on Tuesday, May 14th.
On average, analysts expect that Farmer Bros will report full-year sales of $610.37 million for the current fiscal year, with estimates ranging from $607.74 million to $613.00 million. For the next fiscal year, analysts forecast that the company will post sales of $629.11 million, with estimates ranging from $620.42 million to $637.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Farmer Bros.
Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings results on Monday, February 11th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.14). The company had revenue of $159.77 million during the quarter, compared to analysts’ expectations of $162.79 million. Farmer Bros had a negative return on equity of 2.67% and a negative net margin of 2.74%.
FARM traded up $0.44 during trading on Friday, reaching $20.64. The company had a trading volume of 230,150 shares, compared to its average volume of 70,013. The stock has a market capitalization of $337.33 million, a P/E ratio of 158.77 and a beta of 0.15. Farmer Bros has a 12-month low of $19.17 and a 12-month high of $31.50. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60.
In other Farmer Bros news, major shareholder Levin Easterly Partners Llc bought 464,694 shares of the stock in a transaction on Friday, April 12th. The shares were bought at an average price of $19.85 per share, with a total value of $9,224,175.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FARM. Hodges Capital Management Inc. acquired a new stake in shares of Farmer Bros during the 1st quarter valued at about $250,000. North Star Investment Management Corp. lifted its holdings in shares of Farmer Bros by 45.1% during the 1st quarter. North Star Investment Management Corp. now owns 135,150 shares of the company’s stock valued at $2,704,000 after buying an additional 42,000 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Farmer Bros by 38.0% during the 4th quarter. Deutsche Bank AG now owns 37,083 shares of the company’s stock valued at $863,000 after buying an additional 10,209 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Farmer Bros by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 130,095 shares of the company’s stock valued at $3,035,000 after buying an additional 8,701 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Farmer Bros by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 929,387 shares of the company’s stock valued at $21,682,000 after buying an additional 10,015 shares during the last quarter. 60.08% of the stock is currently owned by institutional investors.
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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