Sanderson Farms, Inc. (NASDAQ:SAFM) is reporting third quarter earnings results on Thursday 27th August 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.95 per share from $ 936.04 million in revenue.
For the full year, analysts predict revenues of $ 3507.39 million, while looking forward to loss of $ 0.78 per share.
Previous Quarter Performance
Sanderson Farms, Inc. revealed income for the second quarter of $ 0.28 per share, from the revenue of $ 844.71 million. The quarterly earnings reduced 84.70 percent compared with the same quarter last year. According to street consensus, SAFM was expected to report 2Q20 income of $ 0.19 per share from revenue of $ 890.61 million. The bottom line results beat street analysts by $ 0.09 or 47.37 percent, at the same time, top line results fell short of analysts by $ 45.9 million or 5.15 percent.
Stock Performance
Shares of Sanderson Farms, Inc. traded up $ 1.03 or 0.90 percent on Wednesday, reaching $ 116.02 with volume of 209.20 thousand shares. Sanderson Farms, Inc. has traded high as $ 116.58 and has cracked $ 114.25 on the downward trend
The closing price of $ 116.02, representing a 12.59 % increase from the 52 week low of $ 102.13 and a 35.92 % decrease over the 52 week high of $ 179.45.
The company has a market capital of $ 2.58 billion and is part of the Consumer Defensive sector and Packaged Foods industry.
Recent Analyst recommendations
- On 5th August 2020, downgraded by Credit Suisse Group to Neutral from Outperform rating, with $ 100.00 target price.
Recent Stock Dividend Announcement
On July 16, 2020, the board of directors authorized quarterly dividend of $ 0.32 per share to holders of record as of the close of business on July 28, 2020, with payment date of August 11, 2020 and ex-dividend date on July 27, 2020.
Conference Call
Sanderson Farms, Inc. will be hosting a conference call at 11:00 AM eastern time on 27th August 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website edge.media-server.com/mmc/p/3xfv56im
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. Its prepared chicken product line includes institutional and consumer packaged partially cooked or marinated chicken items for distributors and food service establishments.
