Farmer Bros Co (NASDAQ:FARM) – Stock analysts at B. Riley cut their Q3 2018 earnings estimates for shares of Farmer Bros in a research note issued to investors on Wednesday, according to Zacks Investment Research. B. Riley analyst K. Anderson now expects that the company will post earnings per share of $0.17 for the quarter, down from their prior estimate of $0.31. B. Riley has a “Buy” rating and a $38.50 price objective on the stock. B. Riley also issued estimates for Farmer Bros’ FY2018 earnings at ($0.62) EPS, Q2 2019 earnings at $0.22 EPS and FY2019 earnings at $1.16 EPS.
Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($1.27). Farmer Bros had a negative return on equity of 5.67% and a negative net margin of 2.98%. The company had revenue of $167.37 million during the quarter, compared to the consensus estimate of $161.62 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.
Farmer Bros (NASDAQ:FARM) traded up $0.75 during trading hours on Friday, hitting $31.30. The stock had a trading volume of 55,415 shares, compared to its average volume of 60,115. Farmer Bros has a 1-year low of $28.75 and a 1-year high of $37.35. The company has a market cap of $528.97, a price-to-earnings ratio of 61.37 and a beta of 0.51.
A number of hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in Farmer Bros by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 40,301 shares of the company’s stock worth $1,220,000 after acquiring an additional 247 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Farmer Bros by 6.9% in the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after purchasing an additional 378 shares during the period. Suntrust Banks Inc. raised its stake in shares of Farmer Bros by 8.3% in the 2nd quarter. Suntrust Banks Inc. now owns 8,396 shares of the company’s stock valued at $253,000 after purchasing an additional 642 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Farmer Bros by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after purchasing an additional 829 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Farmer Bros by 11.1% in the 2nd quarter. Wells Fargo & Company MN now owns 9,204 shares of the company’s stock valued at $279,000 after purchasing an additional 923 shares during the period. Hedge funds and other institutional investors own 54.68% of the company’s stock.
In other Farmer Bros news, Director Jeanne Farmer Grossman sold 5,122 shares of Farmer Bros stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $34.44, for a total transaction of $176,401.68. Following the transaction, the director now directly owns 16,973 shares in the company, valued at $584,550.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher P. Mottern bought 1,500 shares of Farmer Bros stock in a transaction on Wednesday, February 14th. The shares were acquired at an average price of $30.26 per share, for a total transaction of $45,390.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 18,764 shares of company stock worth $637,909. Corporate insiders own 9.20% of the company’s stock.
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Farmer Bros Company Profile
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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