Farmer Bros Co (NASDAQ:FARM) – Investment analysts at B. Riley dropped their FY2019 earnings per share (EPS) estimates for shares of Farmer Bros in a report released on Wednesday, May 8th. B. Riley analyst M. Wiesenberger now anticipates that the company will post earnings per share of ($0.74) for the year, down from their previous estimate of ($0.14). B. Riley has a “Neutral” rating and a $21.00 price objective on the stock. B. Riley also issued estimates for Farmer Bros’ Q4 2019 earnings at ($0.16) EPS and FY2020 earnings at $0.21 EPS.
FARM has been the subject of several other research reports. ValuEngine upgraded shares of Farmer Bros from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. BidaskClub downgraded shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Roth Capital restated a “neutral” rating and issued a $20.00 price objective (down previously from $28.00) on shares of Farmer Bros in a research note on Wednesday. Zacks Investment Research downgraded shares of Farmer Bros from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 14th. Finally, TheStreet downgraded shares of Farmer Bros from a “c” rating to a “d+” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Farmer Bros currently has a consensus rating of “Hold” and an average target price of $22.33.
Farmer Bros (NASDAQ:FARM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($3.11). Farmer Bros had a negative net margin of 2.74% and a negative return on equity of 2.67%. The company had revenue of $146.70 million during the quarter, compared to analyst estimates of $152.03 million. During the same quarter in the prior year, the company earned ($0.20) EPS. The business’s revenue was down 7.1% on a year-over-year basis.
In other news, major shareholder Levin Easterly Partners Llc purchased 464,694 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was purchased at an average cost of $19.85 per share, with a total value of $9,224,175.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 571,592 shares of company stock valued at $11,334,446 in the last quarter. Insiders own 10.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Martingale Asset Management L P purchased a new position in Farmer Bros in the first quarter valued at about $1,284,000. California Public Employees Retirement System increased its holdings in Farmer Bros by 13.5% in the first quarter. California Public Employees Retirement System now owns 17,477 shares of the company’s stock valued at $350,000 after buying an additional 2,077 shares in the last quarter. Teton Advisors Inc. increased its holdings in Farmer Bros by 10.0% in the first quarter. Teton Advisors Inc. now owns 292,034 shares of the company’s stock valued at $5,844,000 after buying an additional 26,480 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Farmer Bros by 16.9% in the first quarter. Gamco Investors INC. ET AL now owns 103,700 shares of the company’s stock valued at $2,075,000 after buying an additional 15,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Farmer Bros by 415.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after buying an additional 1,695 shares in the last quarter. 60.25% of the stock is 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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