Brokerages forecast that Farmer Bros Co (NASDAQ:FARM) will report earnings of ($0.15) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Farmer Bros’ earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.16). Farmer Bros posted earnings per share of $0.14 in the same quarter last year, which suggests a negative year over year growth rate of 207.1%. The business is expected to announce its next earnings results on Tuesday, September 10th.
According to Zacks, analysts expect that Farmer Bros will report full year earnings of ($3.99) per share for the current financial year, with EPS estimates ranging from ($4.00) to ($3.97). For the next year, analysts anticipate that the firm will post earnings of $0.21 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Farmer Bros.
Farmer Bros (NASDAQ:FARM) last announced its earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($3.11). Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The firm had revenue of $146.70 million for the quarter, compared to analyst estimates of $152.03 million. During the same period last year, the firm earned ($0.20) earnings per share. Farmer Bros’s revenue for the quarter was down 7.1% compared to the same quarter last year.
Several research firms have recently commented on FARM. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. ValuEngine cut shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Roth Capital restated a “neutral” rating and set a $20.00 price target (down from $28.00) on shares of Farmer Bros in a report on Wednesday, May 8th. B. Riley boosted their price target on shares of Lumentum from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Lake Street Capital lowered their price target on shares of Farmer Bros from $36.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.33.
Shares of Farmer Bros stock traded down $0.50 on Wednesday, hitting $16.78. 45,107 shares of the company traded hands, compared to its average volume of 98,684. The stock’s 50-day moving average is $17.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03. Farmer Bros has a 12-month low of $15.58 and a 12-month high of $30.20. The company has a market cap of $296.50 million, a P/E ratio of 129.08, a PEG ratio of 10.36 and a beta of 0.12.
In other Farmer Bros news, major shareholder Levin Easterly Partners Llc acquired 21,684 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $18.81 per share, for a total transaction of $407,876.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have bought 161,851 shares of company stock worth $2,874,056. 10.90% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Hodges Capital Management Inc. bought a new stake in Farmer Bros in the first quarter worth $250,000. Deutsche Bank AG boosted its holdings in Farmer Bros by 38.0% in the fourth quarter. Deutsche Bank AG now owns 37,083 shares of the company’s stock worth $863,000 after purchasing an additional 10,209 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in Farmer Bros by 10.1% in the first quarter. Kennedy Capital Management Inc. now owns 446,082 shares of the company’s stock worth $8,926,000 after purchasing an additional 40,869 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Farmer Bros by 16.9% in the first quarter. Gamco Investors INC. ET AL now owns 103,700 shares of the company’s stock worth $2,075,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Farmer Bros in the fourth quarter worth $225,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
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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