The Jefferies Group Comments on Sanderson Farms Inc.’s FY2016 Earnings (SAFM)

The Jefferies Group Comments on Sanderson Farms Inc.’s FY2016 Earnings (SAFM)

Sanderson Farms Inc. (NASDAQ:SAFM) – Equities research analysts at Jefferies Group lifted their FY2016 earnings per share (EPS) estimates for shares of Sanderson Farms in a research note issued to investors on Wednesday. Jefferies Group analyst A. Jagdale now expects that the firm will earn $7.80 per share for the year, up from their previous forecast of $6.82. Jefferies Group also issued estimates for Sanderson Farms’ Q4 2016 earnings at $2.80 EPS, Q1 2017 earnings at $1.34 EPS, Q2 2017 earnings at $1.67 EPS, Q3 2017 earnings at $2.52 EPS, Q4 2017 earnings at $2.61 EPS, FY2017 earnings at $8.14 EPS and FY2018 earnings at $7.31 EPS.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 25th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.31. The business earned $728 million during the quarter, compared to the consensus estimate of $749.76 million. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.27 earnings per share.

A number of other brokerages also recently issued reports on SAFM. DA Davidson began coverage on shares of Sanderson Farms in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $103.00 price target on the stock. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $84.38.

Sanderson Farms (NASDAQ:SAFM) opened at 89.22 on Monday. The company has a market cap of $2.01 billion, a P/E ratio of 14.31 and a beta of 0.33. The company has a 50-day moving average of $92.84 and a 200-day moving average of $89.89. Sanderson Farms has a 52-week low of $66.55 and a 52-week high of $99.40.

The business also recently announced a special dividend, which was paid on Tuesday, October 18th. Investors of record on Tuesday, October 4th were given a dividend of $1.00 per share. This represents a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, September 30th. This is an increase from Sanderson Farms’s previous special dividend of $0.50. Sanderson Farms’s payout ratio is presently 15.43%.

In related news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $97.00, for a total transaction of $72,750.00. Following the transaction, the director now owns 14,296 shares in the company, valued at approximately $1,386,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.45% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFM. Renaissance Technologies LLC increased its position in Sanderson Farms by 15.2% in the first quarter. Renaissance Technologies LLC now owns 326,400 shares of the company’s stock worth $29,435,000 after buying an additional 42,983 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Sanderson Farms by 9.9% in the first quarter. Hancock Holding Co. now owns 126,265 shares of the company’s stock worth $11,387,000 after buying an additional 11,410 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Sanderson Farms by 76.3% in the first quarter. Goldman Sachs Group Inc. now owns 154,577 shares of the company’s stock worth $13,940,000 after buying an additional 66,878 shares during the period. AXA raised its stake in shares of Sanderson Farms by 211.0% in the first quarter. AXA now owns 76,500 shares of the company’s stock worth $6,899,000 after buying an additional 51,900 shares during the period. Finally, UBS Group AG raised its stake in shares of Sanderson Farms by 28.9% in the first quarter. UBS Group AG now owns 41,068 shares of the company’s stock worth $3,704,000 after buying an additional 9,201 shares during the period. Institutional investors own 93.34% of the company’s stock.

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