Seneca Foods (SENEA) Projected to Announce Earnings on Thursday

Key Points

• Seneca Foods is expected to report earnings before the market opens Thursday, August 6. Analysts forecast quarterly earnings of $2.92 per share on revenue of approximately $327 million.
• SENEA opened at $170.12, with a $1.15 billion market capitalization and a 12-month trading range of $99.58 to $187.61. Hedge funds and other institutional investors own 42.51% of the stock.
• Analyst sentiment is strongly positive: recent firms upgraded the stock, and MarketBeat data shows an average rating of “Strong Buy.”

Seneca Foods (NASDAQ:SENEA - Get Free Report) will likely be announcing its results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of $2.92 per share and revenue of $327.00 million for the quarter.

Seneca Foods Stock Performance

NASDAQ:SENEA opened at $170.12 on Thursday. The firm has a market capitalization of $1.15 billion, a PE ratio of 10.25 and a beta of -0.07. The business's fifty day moving average price is $161.31 and its 200 day moving average price is $144.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.06 and a quick ratio of 1.07. Seneca Foods has a 12 month low of $99.58 and a 12 month high of $187.61.

Institutional Investors Weigh In On Seneca Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Polymer Capital Management US LLC purchased a new position in shares of Seneca Foods during the fourth quarter worth about $351,000. Engineers Gate Manager LP lifted its position in Seneca Foods by 33.3% during the 2nd quarter. Engineers Gate Manager LP now owns 3,435 shares of the company's stock worth $348,000 after acquiring an additional 859 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Seneca Foods during the 4th quarter worth approximately $304,000. Price T Rowe Associates Inc. MD grew its stake in shares of Seneca Foods by 12.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,745 shares of the company's stock valued at $304,000 after purchasing an additional 310 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Seneca Foods in the third quarter valued at approximately $255,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SENEA shares. Wall Street Zen raised Seneca Foods from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Weiss Ratings upgraded Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, June 15th. Finally, Freedom Capital raised Seneca Foods to a "strong-buy" rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, Seneca Foods currently has an average rating of "Strong Buy".

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company's core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.

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