Seneca Foods (NASDAQ:SENEA) Issues Quarterly Earnings Results

Seneca Foods (NASDAQ:SENEA) issued its earnings results on Wednesday. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.82 by $1.25, FiscalAI reports. Seneca Foods had a return on equity of 16.01% and a net margin of 6.60%. The company had revenue of $492.59 million during the quarter, compared to analysts’ expectations of $506.00 million.

Seneca Foods Trading Up 0.9%

Seneca Foods stock traded up $1.31 during mid-day trading on Friday, hitting $145.52. The company’s stock had a trading volume of 14,663 shares, compared to its average volume of 103,365. The firm has a market capitalization of $985.31 million, a PE ratio of 8.41 and a beta of -0.03. Seneca Foods has a 1 year low of $101.81 and a 1 year high of $210.00. The company has a current ratio of 3.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $177.35 and its two-hundred day moving average is $157.65.

Seneca Foods shares are scheduled to split on Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, November 16th.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SENEA. Wall Street Zen upgraded Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. Weiss Ratings lowered shares of Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. Finally, Freedom Capital lowered shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Insider Activity at Seneca Foods

In other news, VP Dean Erstad sold 1,587 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the transaction, the vice president owned 609 shares of the company’s stock, valued at $125,551.44. This represents a 72.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.24% of the stock is currently owned by company insiders.

About Seneca Foods

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.