Brokerages forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce sales of $802.63 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sanderson Farms’ earnings. The highest sales estimate is $833.65 million and the lowest is $771.60 million. Sanderson Farms posted sales of $919.94 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, December 13th.

According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $3.24 billion for the current financial year, with estimates ranging from $3.21 billion to $3.27 billion. For the next year, analysts expect that the firm will report sales of $3.46 billion, with estimates ranging from $3.44 billion to $3.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Sanderson Farms.

Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.17). The company had revenue of $852.40 million for the quarter, compared to analyst estimates of $871.06 million. Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.09 EPS.

A number of research firms have recently issued reports on SAFM. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine upgraded shares of Sanderson Farms from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Stephens upgraded shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, August 24th. TheStreet cut shares of Sanderson Farms from a “b” rating to a “c+” rating in a research note on Wednesday, August 29th. Finally, Mizuho set a $105.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $104.80.

In other Sanderson Farms news, Director John Bierbusse sold 875 shares of Sanderson Farms stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the completion of the sale, the director now owns 12,086 shares in the company, valued at approximately $1,328,734.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now owns 9,682 shares of the company’s stock, valued at approximately $1,037,329.48. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its stake in Sanderson Farms by 74.5% in the 3rd quarter. Bank of Montreal Can now owns 87,738 shares of the company’s stock worth $9,069,000 after purchasing an additional 37,448 shares in the last quarter. Smith Shellnut Wilson LLC ADV bought a new position in Sanderson Farms in the 3rd quarter valued at about $378,000. We Are One Seven LLC bought a new position in Sanderson Farms in the 3rd quarter valued at about $288,000. United Services Automobile Association increased its holdings in Sanderson Farms by 31.6% in the 2nd quarter. United Services Automobile Association now owns 32,225 shares of the company’s stock valued at $3,388,000 after buying an additional 7,730 shares during the period. Finally, Rehmann Capital Advisory Group increased its holdings in Sanderson Farms by 5,238.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock valued at $118,000 after buying an additional 1,100 shares during the period.

Shares of NASDAQ SAFM traded down $0.48 during mid-day trading on Friday, reaching $97.52. 426,786 shares of the company were exchanged, compared to its average volume of 501,516. The stock has a market cap of $2.36 billion, a PE ratio of 7.93 and a beta of 0.29. Sanderson Farms has a twelve month low of $95.97 and a twelve month high of $176.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Monday, October 1st. Sanderson Farms’s dividend payout ratio (DPR) is 10.41%.

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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.

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Earnings History and Estimates for Sanderson Farms (NASDAQ:SAFM)

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