Farmer Bros. (NASDAQ:FARM) Posts Earnings Results, Hits Expectations

Farmer Bros. (NASDAQ:FARM) issued its quarterly earnings results on Thursday. The company reported ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.22), Yahoo Finance reports. The company had revenue of $84.40 million for the quarter, compared to the consensus estimate of $81.30 million. Farmer Bros. had a negative net margin of 13.46% and a negative return on equity of 58.82%. During the same period in the previous year, the firm earned ($0.84) EPS.

Farmer Bros. Stock Performance

Shares of Farmer Bros. stock traded down $0.32 during trading hours on Friday, reaching $2.31. The company had a trading volume of 324,437 shares, compared to its average volume of 64,895. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.65. Farmer Bros. has a one year low of $2.12 and a one year high of $4.04. The firm has a market cap of $49.11 million, a PE ratio of -1.01 and a beta of 1.79. The business has a fifty day simple moving average of $2.69 and a 200 day simple moving average of $2.99.

Wall Street Analyst Weigh In

FARM has been the topic of several research reports. StockNews.com upgraded Farmer Bros. from a “hold” rating to a “buy” rating in a research note on Sunday, May 19th. Craig Hallum started coverage on shares of Farmer Bros. in a report on Monday, June 17th. They set a “buy” rating and a $6.00 price objective on the stock.

About Farmer Bros.

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.