Zacks: Analysts Expect Farmer Bros Co (NASDAQ:FARM) to Post -$0.38 Earnings Per Share

Analysts predict that Farmer Bros Co (NASDAQ:FARM) will post ($0.38) earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Farmer Bros’ earnings, with the lowest EPS estimate coming in at ($0.49) and the highest estimate coming in at ($0.26). Farmer Bros posted earnings per share of ($0.52) during the same quarter last year, which indicates a positive year-over-year growth rate of 26.9%. The firm is expected to announce its next earnings results on Tuesday, September 8th.

According to Zacks, analysts expect that Farmer Bros will report full year earnings of ($1.98) per share for the current financial year, with EPS estimates ranging from ($2.08) to ($1.88). For the next fiscal year, analysts expect that the firm will report earnings of ($0.34) per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Farmer Bros.

A number of brokerages have recently issued reports on FARM. Zacks Investment Research raised shares of Farmer Bros from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Friday, May 8th. B. Riley cut their price objective on shares of Farmer Bros from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, March 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Farmer Bros presently has a consensus rating of “Buy” and an average target price of $10.75.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its stake in shares of Farmer Bros by 62.8% during the 1st quarter. Invesco Ltd. now owns 37,246 shares of the company’s stock valued at $259,000 after buying an additional 14,362 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Farmer Bros by 17.0% during the 1st quarter. Wells Fargo & Company MN now owns 26,708 shares of the company’s stock valued at $185,000 after buying an additional 3,886 shares in the last quarter. Athanor Capital LP purchased a new position in shares of Farmer Bros during the 1st quarter valued at $108,000. Gamco Investors INC. ET AL lifted its stake in shares of Farmer Bros by 2.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 240,200 shares of the company’s stock valued at $1,672,000 after buying an additional 5,200 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Farmer Bros by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 187,036 shares of the company’s stock valued at $1,301,000 after buying an additional 8,313 shares in the last quarter. Institutional investors own 81.69% of the company’s stock.

Shares of FARM stock traded down $0.62 during mid-day trading on Tuesday, reaching $7.71. 183,259 shares of the company’s stock traded hands, compared to its average volume of 83,982. Farmer Bros has a 12 month low of $5.94 and a 12 month high of $19.15. The firm has a 50 day moving average price of $8.02 and a two-hundred day moving average price of $11.59. The company has a current ratio of 1.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.65.

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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Earnings History and Estimates for Farmer Bros (NASDAQ:FARM)

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