Seneca Foods (NASDAQ:SENEA) Announces Earnings Results, Beats Estimates By $1.25 EPS

Seneca Foods (NASDAQ:SENEA) announced its earnings results on Wednesday. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $1.25, FiscalAI reports. The company had revenue of $492.59 million during the quarter, compared to analysts’ expectations of $506.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Seneca Foods Stock Down 4.6%

SENEA stock traded down $7.08 during mid-day trading on Wednesday, reaching $146.70. The company had a trading volume of 85,706 shares, compared to its average volume of 103,621. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. The company has a market capitalization of $993.16 million, a price-to-earnings ratio of 8.47 and a beta of -0.03. The firm has a fifty day simple moving average of $179.18 and a 200 day simple moving average of $157.38. Seneca Foods has a fifty-two week low of $99.58 and a fifty-two week high of $210.00.

Wall Street Analysts Forecast Growth

SENEA has been the subject of several recent research reports. Freedom Capital lowered shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Finally, Weiss Ratings downgraded shares of Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Insider Activity

In related news, VP Dean Erstad sold 1,587 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $206.16, for a total transaction of $327,175.92. Following the sale, the vice president directly owned 609 shares in the company, valued at approximately $125,551.44. This represents a 72.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.24% of the company’s stock.

Seneca Foods Company Profile

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.