Zacks: Brokerages Expect Farmland Partners Inc (NYSE:FPI) to Post -$0.02 Earnings Per Share
Equities research analysts expect Farmland Partners Inc (NYSE:FPI) to announce ($0.02) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Farmland Partners’ earnings. The highest EPS estimate is $0.00 and the lowest is ($0.03). Farmland Partners posted earnings of $0.01 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 300%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that Farmland Partners will report full year earnings of $0.25 per share for the current fiscal year, with EPS estimates ranging from $0.19 to $0.29. For the next financial year, analysts expect that the company will post earnings of $0.29 per share, with EPS estimates ranging from $0.25 to $0.33. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Farmland Partners.
Farmland Partners (NYSE:FPI) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $10.89 million for the quarter, compared to the consensus estimate of $11.30 million. Farmland Partners had a return on equity of 3.47% and a net margin of 21.18%.
Shares of FPI traded up $0.03 during trading hours on Friday, hitting $6.05. 93,922 shares of the company were exchanged, compared to its average volume of 124,293. The company has a market capitalization of $204.20 million, a P/E ratio of 25.21 and a beta of 0.77. The business’s fifty day moving average is $6.58. Farmland Partners has a one year low of $4.45 and a one year high of $7.85.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, June 28th. Farmland Partners’s dividend payout ratio is presently 83.33%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ellis Investment Partners LLC acquired a new stake in shares of Farmland Partners in the first quarter worth $28,000. BNP Paribas Arbitrage SA boosted its position in shares of Farmland Partners by 402.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,630 shares of the financial services provider’s stock worth $36,000 after buying an additional 4,509 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Farmland Partners in the fourth quarter worth $49,000. Citigroup Inc. boosted its position in shares of Farmland Partners by 29.5% in the fourth quarter. Citigroup Inc. now owns 11,326 shares of the financial services provider’s stock worth $51,000 after buying an additional 2,579 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in shares of Farmland Partners in the fourth quarter worth $62,000. 45.95% of the stock is owned by institutional investors and hedge funds.
About Farmland Partners
Farmland Partners Inc is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns approximately 162,000 acres in 17 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia.
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