On Tuesday, Sanderson Farms Inc. (NASDAQ:SAFM) jumped to a fiscal Q2 profit as inflated prices and production restores the poultry firm into bullish territory.
The outcomes mirrored enhanced market state of affairs driven mainly by a decline in the supply of poultry items, Chief Executive Joe F. Sanderson, Jr. articulated.
The recent phase’s profit ends a streak of five bearish quarters. Like its opponents, Sanderson has faced a lot of hardships in the last year, battling inflated feed costs; an oversupply of chickens caused the prices to fall.
Recently, although, lowering feed costs have provided some respite to the sector. Competitor Pilgrim’s Pride Corp. (PPC) lately declared a healthy profit, snapping a complete year of declines.
For the recent quarter concluded on April 30, Sanderson declared a profit of $23.9 million, or $1.04 per share, in contrast with a year-ago drop of $16.3 million, or 74 cents apiece.
Omitting inventory costs, last year’s drop was 56 cents. Meanwhile, sales climbed 24% to $595 million, indicating a hike of 11% in pounds of poultry sold, and mainly mirroring surging production from the company’s Kinston, NC plant.
Its competitors include Pilgrim’s Pride Corporation (NYSE:PPC) that surged 3.51% to $8.25 with the total traded volume of 471,060.00 shares and Tyson Foods, Inc. (NYSE:TSN) that dropped -0.49% to $19.23 with the total traded volume of 631,976.00 shares.
Other consumer goods stocks with bullish trend include Johnson Controls, Inc. (NYSE:JCI) up 2.78% to $31.39, The Goodyear Tire & Rubber Company (NYSE:GT) up 2.74% to $10.88 and International Paper Company (NYSE:IP) up 2.56% to $30.06, whereas with bearish trend include Shiner International, Inc. (NASDAQ:BEST) down -9.94% to $0.240, Tianli Agritech, Inc. (NASDAQ:OINK) down -7.83% to $1.40 and Enova Systems, Inc. (NYSEAMEX:ENA) down -6.20% to $0.103.
Sanderson Farms, Inc. (NASDAQ:SAFM) after opening at $55.00 hit high price of $55.87 and then trading at $51.66 by plunging -4.88% at 11:26AM EDT and on current session volume of 195,445.00 shares is surprisingly higher than its average volume of 170,153.00 shares.
The stock price volatility was 2.79% for a week and 2.26% for a month as well as price volatility’s Average True Range for 14 days was 1.25 and its beta remained 0.39.
The liquidity measure in recent quarter results of the company was recorded 7.08 as current ratio and on the other side the debt to equity ratio was 0.60 and long-term debt to equity ratio also remained 0.58. The Company had total cash at hand $3.85 million and a book value per share as $22.32 in the most recent quarter.
SAFM generated revenue of 2.07 billion in the following twelve months and earned -$101.51 million. The Company showed a negative -4.91% in the net profit margin and as well as in its operating margin which remained -7.05%. Company’s annual sales growth for the past five year was 13.55%.
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