Equities research analysts expect Farmer Bros Co (NASDAQ:FARM) to post earnings of $0.02 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Farmer Bros’ earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.00. Farmer Bros reported earnings per share of $0.15 in the same quarter last year, which suggests a negative year over year growth rate of 86.7%. The company is scheduled to report its next earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Farmer Bros will report full-year earnings of $0.18 per share for the current fiscal year, with EPS estimates ranging from $0.17 to $0.18. For the next year, analysts anticipate that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.87 to $0.93. Zacks’ EPS averages are an average based on a survey of research analysts that follow Farmer Bros.
Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings results on Wednesday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). The company had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $146.39 million. Farmer Bros had a negative net margin of 4.10% and a negative return on equity of 0.57%. Farmer Bros’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share.
A number of research firms have recently issued reports on FARM. BidaskClub upgraded Farmer Bros from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 13th. Zacks Investment Research lowered Farmer Bros from a “hold” rating to a “strong sell” rating in a research report on Friday, November 9th. Finally, B. Riley decreased their price objective on Farmer Bros from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $33.75.
In related news, CEO Michael H. Keown sold 23,333 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $28.03, for a total value of $654,023.99. Following the transaction, the chief executive officer now directly owns 68,405 shares in the company, valued at $1,917,392.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FARM. Levin Capital Strategies L.P. lifted its stake in Farmer Bros by 441.9% during the second quarter. Levin Capital Strategies L.P. now owns 1,076,908 shares of the company’s stock worth $32,900,000 after purchasing an additional 878,187 shares in the last quarter. Capital Research Global Investors acquired a new position in Farmer Bros during the third quarter worth $17,899,000. Russell Investments Group Ltd. lifted its stake in Farmer Bros by 1,712.5% during the second quarter. Russell Investments Group Ltd. now owns 494,139 shares of the company’s stock worth $15,109,000 after purchasing an additional 466,876 shares in the last quarter. Trigran Investments Inc. lifted its stake in Farmer Bros by 21.5% during the second quarter. Trigran Investments Inc. now owns 1,433,932 shares of the company’s stock worth $43,807,000 after purchasing an additional 254,184 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Farmer Bros by 12.8% during the second quarter. BlackRock Inc. now owns 664,180 shares of the company’s stock worth $20,291,000 after purchasing an additional 75,313 shares in the last quarter. Institutional investors own 59.57% of the company’s stock.
Shares of FARM stock traded up $0.30 during trading hours on Friday, reaching $24.56. The company had a trading volume of 14,219 shares, compared to its average volume of 99,998. The firm has a market capitalization of $411.88 million, a PE ratio of 188.92, a price-to-earnings-growth ratio of 17.33 and a beta of 0.22. Farmer Bros has a 12-month low of $23.02 and a 12-month high of $35.05.
Farmer Bros Company Profile
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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