Sanderson Farms Beats; Shares Up – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/20561/Sanderson+Farms+Beats%3B+Shares+Up+-+Zacks+Tale+of+the+TapePosted on Thursday, May 28th, 2009 | In Market Commentary, Stocks to Watch
Sanderson Farms Inc. (SAFM) announced fiscal second-quarter earnings of $1.27 per share, topping the consensus estimate by 69 cents, primarily due to lower feed costs.
The poultry processor’s sales fell 2% to $426.8 million, reflecting the impact of production cuts.
“We are cautiously optimistic as we head into the summer months and what is typically a period of better demand for chicken,” said CEO Joe F. Sanderson, Jr.
The full-year average forecast has increased by 5 cents to $2.40 per share over the past month as 4 out of 9 covering analysts raised expectations.
SAFM, a Zacks #3 Rank (”Hold”) stock, has advanced more than 4.6% today on extraordinarily high volume of 1.6 million, compared to average daily volume of about 242,000.
“SAFM” Free Stock Analysis: Buy? Sell? Hold?
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