Farmer Brothers (NASDAQ:FARM) Issues Earnings Results, Misses Expectations By $0.08 EPS

Farmer Brothers (NASDAQ:FARM) released its earnings results on Friday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08), Zacks reports. The company had revenue of $88.92 million for the quarter, compared to analysts’ expectations of $90.47 million. Farmer Brothers had a negative return on equity of 13.80% and a negative net margin of 4.00%.

Farmer Brothers Stock Down 3.8%

NASDAQ FARM traded down $0.06 during trading on Friday, reaching $1.54. 320,706 shares of the company’s stock were exchanged, compared to its average volume of 72,841. The company has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.68. The stock has a market cap of $33.26 million, a P/E ratio of -2.44 and a beta of 1.27. Farmer Brothers has a 1 year low of $1.34 and a 1 year high of $3.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 1.24.

Analyst Ratings Changes

Several research analysts recently commented on FARM shares. Zacks Research raised Farmer Brothers from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Farmer Brothers in a research report on Monday, December 29th. Finally, Roth Mkm decreased their price target on Farmer Brothers from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.75.

Hedge Funds Weigh In On Farmer Brothers

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in Farmer Brothers by 152.2% during the first quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock valued at $91,000 after buying an additional 24,820 shares in the last quarter. XTX Topco Ltd grew its holdings in Farmer Brothers by 210.2% during the second quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock valued at $58,000 after purchasing an additional 28,661 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Farmer Brothers by 253.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company’s stock valued at $153,000 after buying an additional 49,374 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Farmer Brothers by 2.3% during the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock worth $373,000 after buying an additional 6,000 shares in the last quarter. 64.48% of the stock is owned by institutional investors and hedge funds.

About Farmer Brothers

Farmer Brothers Company (NASDAQ: FARM) is a specialty coffee roaster and distributor that serves the foodservice, hospitality and office coffee markets across the United States. The company produces and delivers coffee, tea, single-serve products and beverage equipment, supporting its customers with supply chain solutions, equipment maintenance and barista training services. Its operations are organized to serve commercial accounts ranging from national restaurant chains and convenience stores to independent coffee shops and corporate offices.

Founded in 1912 in Texas, Farmer Brothers has grown from a regional roaster into a national supplier with a network of manufacturing and distribution facilities.