Village Farms International (NASDAQ:VFF) Announces Quarterly Earnings Results

Key Points

• Village Farms International reported a quarterly earnings per share (EPS) of $0.10, beating the consensus estimate of ($0.02) by $0.12.
• The company has a market capitalization of $193.22 million and experienced a significant price fluctuation with a 52-week range from $0.45 to $1.72.
• Insider activity includes CFO Stephen C. Ruffini acquiring 25,000 shares at an average price of $1.21, increasing his ownership position in the company.

Village Farms International (NASDAQ:VFF - Get Free Report) announced its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.12, Zacks reports. The business had revenue of $59.90 million during the quarter, compared to the consensus estimate of $48.86 million. Village Farms International had a net margin of 3.42% and a negative return on equity of 2.24%.

Village Farms International Trading Up 0.5%

VFF traded up $0.02 during trading on Friday, reaching $2.84. The company had a trading volume of 1,452,685 shares, compared to its average volume of 933,467. The firm's 50-day simple moving average is $1.39 and its 200 day simple moving average is $0.98. The company has a market cap of $319.33 million, a price-to-earnings ratio of 31.50 and a beta of 2.14. Village Farms International has a 12-month low of $0.45 and a 12-month high of $2.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 2.65.

Insiders Place Their Bets

In other news, CFO Stephen C. Ruffini purchased 25,000 shares of Village Farms International stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of $1.21 per share, for a total transaction of $30,250.00. Following the acquisition, the chief financial officer directly owned 9,783,127 shares in the company, valued at $11,837,583.67. This represents a 0.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.60% of the stock is currently owned by company insiders.

Institutional Trading of Village Farms International

Hedge funds have recently made changes to their positions in the business. Hilton Capital Management LLC purchased a new position in shares of Village Farms International in the second quarter worth about $94,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Village Farms International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 737,574 shares of the company's stock valued at $446,000 after acquiring an additional 35,913 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Village Farms International by 8.9% during the 2nd quarter. Jane Street Group LLC now owns 203,772 shares of the company's stock valued at $224,000 after buying an additional 16,631 shares during the period. 12.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VFF has been the subject of several research reports. Wall Street Zen cut shares of Village Farms International from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Alliance Global Partners reiterated a "buy" rating on shares of Village Farms International in a research report on Tuesday, May 13th. Finally, Zelman & Associates reiterated an "overweight" rating on shares of Village Farms International in a research note on Monday, June 9th.

About Village Farms International

Village Farms International, Inc, together with its subsidiaries, produces, markets, and sells greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. It operates through four segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy. The company also produces and supplies cannabis products to other licensed providers and provincial governments in Canada and internationally; develops and sells cannabinoid-based health and wellness products, including ingestible, edibles, and topical applications; and produces power.