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Earnings Look Back: Sanderson Farms Is Up 6.5% Since Reporting Quarterly Results 2 Weeks Ago (SAFM)

Published on Sat, 03/09/2013 - 09:20
By Peter Chu

16 days ago, on February 21st, 2013, Sanderson Farms (NASDAQ:SAFM) reported its earnings. Analysts, on average, expected a loss of $0.00 per share on sales of $560.8 million. Sanderson Farms actually reported a loss of $0.31 per share on sales of $595.8 million, missing EPS estimates by $0.31 and beating revenue estimates by $35.0 million. Shares of Sanderson Farms have climbed from $50.47 to $53.75, representing a gain of 6.5% since the company reported earnings 16 days ago.

Sanderson Farms, Inc. produces, processes, markets, and distributes fresh and frozen chicken products. The Company also processes, markets, and distributes processed and prepared food items. Sanderson Farms sells its chicken, primarily under the Sanderson Farms brand name, to retailers, distributors, and fast food operators in the southeastern, southwestern, and western United States.

Over the past year, Sanderson Farms has traded in a range of $36.11 to $55.87 and closed Thursday at $53.75, 49% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Sanderson Farms (NASDAQ:SAFM) is currently priced 8.5% above its average consensus analyst price target of $49.20. The stock should discover initial support at its 50-day moving average (MA) of $50.59 and subsequent support at its 200-day MA of $46.88.

By Peter Chu