Sanderson Farms (NASDAQ:SAFM) was downgraded by equities research analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Analyst Ratings.Net reports.
Shares of Sanderson Farms (NASDAQ:SAFM) traded down 0.75% on Monday, hitting $64.75. The stock had a trading volume of 62,573 shares. Sanderson Farms has a one year low of $43.04 and a one year high of $75.53. The stock has a 50-day moving average of $67.89 and a 200-day moving average of $65.35. The company has a market cap of $1.490 billion and a P/E ratio of 15.85.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $2.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.62 by $0.33. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $722.45 million. During the same quarter last year, the company posted $1.25 earnings per share. Sanderson Farms’s revenue was up 18.2% compared to the same quarter last year. On average, analysts predict that Sanderson Farms will post $6.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, September 27th. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.17.
A number of other analysts have also recently weighed in on SAFM. Analysts at Zacks downgraded shares of Sanderson Farms (NASDAQ:SAFM) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 31st. They now have a $76.60 price target on the stock. Analysts at BMO Capital Markets raised their price target on shares of Sanderson Farms (NASDAQ:SAFM) from $60.00 to $69.00 in a research note to investors on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.40.
Sanderson Farms, Inc is a poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products.
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