|Bid||130.04 x 800|
|Ask||146.53 x 800|
|Day's Range||129.75 - 132.88|
|52 Week Range||93.98 - 154.82|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.28 (1.00%)|
|1y Target Est||N/A|
Joe Sanderson has been the CEO of Sanderson Farms, Inc. (NASDAQ:SAFM) since 1989. This report will, first, examine the...
Sanderson Farms (SAFM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Yesterday, Tyson Foods (TSN) and fellow meat producers Pilgrim’s Pride (PPC) and Sanderson Farms (SAFM) took a hit to their stocks after news came out about an investigation over price-fixing allegations.
(Bloomberg) -- The U.S. Justice Department has opened a criminal investigation into allegations that chicken processors, including Tyson Foods Inc., Pilgrim’s Pride Corp. and Sanderson Farms Inc., conspired to fix prices.Prosecutors disclosed the grand jury probe in a court filing Friday in Chicago, where civil lawsuits against more than a dozen companies in the industry are pending. Tyson, Pilgrim’s and Sanderson alone control almost half of the U.S. chicken market.The investigation significantly escalates pressure on the poultry processors, which have been fighting price-fixing allegations by consumers, distributors, grocery chains and food companies, including Conagra Brands Inc. and Kraft Heinz Co.Tyson closed down 1.1% to $79.97 in New York, while Pilgrim’s settled down 1.3% to $25.18 and Sanderson dropped 2.2% to $131.03. Brazil’s JBS SA, which owns a controlling stake in Pilgrim’s, settled up 0.5% to 21.90 reais in Sao Paulo.A spokesman for the Justice Department declined to comment. Prosecutors intervened in the civil litigation to ask the court to suspend for six months depositions of the chicken processors’ current and former employees. Tyson said it was notified on April 26 that plaintiffs in the civil cases had received a subpoena from the Justice Department.“We are aware of the Department of Justice’s request, which does not change our view that there is simply no merit to the allegations that Tyson Foods colluded with competitors,” Gary Mickelson, a company spokesman, said in an emailed statement. “We remain committed to vigorously defending ourselves against these baseless allegations.”Sanderson Farms Chief Financial Officer Mike Cockrell said the company hasn’t received a subpoena. “The company continues to believe the civil plaintiffs’ claims as to Sanderson Farms are wholly without merit, and we are committed to defending the case vigorously,” Cockrell said in an emailed statement.Pilgrim’s Pride didn’t immediately respond to a request Tuesday seeking comment on the criminal probe.The poultry processors are accused in the civil lawsuits of colluding to increase prices for broiler chickens. The companies allegedly reduced the supply of broiler chickens and then manipulated prices on a weekly benchmark compiled by the Georgia Department of Agriculture, according to court papers.(Updates shares in fourth paragraph.)To contact the reporters on this story: David McLaughlin in Washington at email@example.com;Lydia Mulvany in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, ;David Glovin at firstname.lastname@example.org, Steve Stroth, Peter JeffreyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The DOJ filed a motion to intervene and stay discovery of evidence in an antitrust lawsuit involving the companies and has convened a grand jury to investigate, according to a court filing from Friday. Shares of Tyson, Pilgrim's Pride and Sanderson Farms fell in late afternoon trading.
Sanderson Farms (SAFM) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
With China’s hog inventory depleted due to African swine fever, the demand for imported pork is up, which would be a good thing for U.S. meat companies except the U.S.-China trade war is getting in the way, says CFRA.
In this daily bar chart of SAFM, below, we can see a sideways consolidation pattern from last June to early January with prices bounded roughly by $95 on the downside and the $110-$115 area above. The volume pattern has been uneven but you can see the On-Balance-Volume (OBV) line take flight from December. The OBV line has made a new high recently and could be foreshadowing a new price high.
Sanderson Farms, Inc. (NASDAQ:SAFM), which is in the food business, and is based in United States, received a lot of...
Challenges related to Jennie-O Turkey segment, soft pork exports and input cost inflation are weighing on Hormel Foods Corporation (HRL).
Sanderson Farms' (SAFM) top line misses the Zacks Consensus Estimate, while the bottom line surpasses the same in Q2. However, sales rise year over year.
Sanderson Farms (SAFM) delivered earnings and revenue surprises of 3.39% and -0.53%, respectively, for the quarter ended April 2019. Do the numbers hold clues to what lies ahead for the stock?
Sanderson Farms Inc NASDAQ/NGS:SAFMView full report here! Summary * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is moderate and declining Bearish sentimentShort interest | PositiveShort interest is moderate for SAFM with between 5 and 10% of shares outstanding currently on loan. However, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on May 13. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $1.90 billion over the last one-month into ETFs that hold SAFM are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
On a per-share basis, the Laurel, Mississippi-based company said it had net income of $1.83. The poultry producer posted revenue of $845.2 million in the period. Sanderson Farms shares have risen 40% since ...
Sanderson Farms (NASDAQ: SAFM ) unveils its next round of earnings this Thursday, May 30. Get prepared with Benzinga's ultimate preview for Sanderson Farms's Q2 earnings. Earnings and Revenue Sanderson ...
Hormel Foods' (HRL) top and bottom lines grow year over year in second-quarter fiscal 2019. However, input cost inflation and expectations of volatile pork prices lead to a lowered outlook.
Sanderson Farms (SAFM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.