Farmer Bros (FARM) Releases Quarterly Earnings Results, Misses Expectations By $3.11 EPS

Farmer Bros (NASDAQ:FARM) posted its earnings results on Tuesday, May 7th. The company reported ($3.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($3.11), reports. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The company had revenue of $146.70 million for the quarter, compared to the consensus estimate of $152.03 million. During the same period last year, the company posted ($0.20) earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year.

Shares of NASDAQ:FARM traded down $0.16 on Friday, reaching $18.50. 440 shares of the company traded hands, compared to its average volume of 188,050. Farmer Bros has a fifty-two week low of $16.92 and a fifty-two week high of $31.50. The company has a market capitalization of $318.82 million, a PE ratio of 142.31 and a beta of 0.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03.

FARM has been the subject of a number of research analyst reports. ValuEngine upgraded Farmer Bros from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. BidaskClub downgraded Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Roth Capital restated a “neutral” rating and issued a $20.00 target price (down from $28.00) on shares of Farmer Bros in a research report on Wednesday, May 8th. Zacks Investment Research downgraded Farmer Bros from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 14th. Finally, B. Riley downgraded Farmer Bros from a “buy” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $21.00 in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Farmer Bros has an average rating of “Hold” and an average price target of $22.33.

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc bought 9,019 shares of Farmer Bros stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $19.86 per share, for a total transaction of $179,117.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 724,157 shares of company stock valued at $14,024,525 in the last quarter. Insiders own 10.90% of the company’s stock.

A hedge fund recently raised its stake in Farmer Bros stock. Geode Capital Management LLC lifted its stake in Farmer Bros Co (NASDAQ:FARM) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,095 shares of the company’s stock after acquiring an additional 8,701 shares during the quarter. Geode Capital Management LLC owned approximately 0.77% of Farmer Bros worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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About Farmer Bros

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 for Farmer Bros (NASDAQ:FARM)

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