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Despite weakness in other segments, strength in Seneca Foods' Canned vegetables segment drives its overall topline in the fiscal second quarter.
Strength in the majority of Seneca Foods (SENEA) segments drives its overall topline in the fiscal first quarter.
FAIRPORT, N.Y., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended June 29, 2024.
Our portfolio is largely unchanged from last quarter, with Net Lease Office Properties still at the top. McBride shares have performed well for us, up about 30% from the level of our initial purchases. Talen will continue to sell off its legacy fossil fuel-burning power generation fleet and return excess capital to shareholders through buybacks.
Discover why Zacks rates Seneca Foods as "Neutral", being the first on Wall Street to initiate coverage on the stock. Explore SENEA's strategic market positioning and financial health amid market challenges.
Seneca Foods' (SENEA) overall topline in fourth-quarter fiscal 2024 is affected due to revenue declines in the majority of its product categories.
The SENEA investment narrative has shifted to focus on its earnings power rather than its balance sheet value. However, over the next 12–18 months, I think the stock will largely be driven by Seneca's sales volume. Based on commentary from Del Monte Pacific and anecdotal evidence, I see a compelling case to be made that sales volume will stabilize into FY2025.
FAIRPORT, N.Y., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the third quarter and nine months ended December 30, 2023.
Seneca Foods is a small-cap canned vegetables manufacturer that has seen little change in market cap over the past 10 years. In recent years it has undergone operational improvements, resulting in improvements in operating margins, and simultaneously it has seen a significant decrease in competition. The stock is extremely undervalued on all traditional metrics, and when adjusting for the LIFO Reserve, Seneca Foods is a Ben Graham style net-net.
SENEA seems to be undervalued compared to peers based on multiple comparisons. But financial health looks weak, as growth in costs outpaces growth in sales, leading to decreasing profit margins.