A week ago on December 18th, 2012 Sanderson Farms (NASDAQ:SAFM) reported earnings and analysts, on average, expected earnings of $0.32 on sales of $632.6 million. Sanderson Farms actually reported earnings of $0.41 per share on sales of $648.4 million, beating EPS estimates by $0.09 and beating revenue estimates by $15.8 million. Since the company's report, shares of Sanderson Farms have fallen from $50.18 to $47.29, representing a loss of 5.8% in the past 11 days.
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 $47.29, 31% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.6%.
Potential upside of 3.2% exists for Sanderson Farms, based on a current level of $47.29 and analysts' average consensus price target of $48.80. The stock should find resistance at its 50-day moving average (MA) of $47.40, as well as support at its 200-day MA of $47.23.