Jefferies Initiates Coverage on Amira Nature Foods Ltd to Buy

Jefferies Initiates Coverage on Amira Nature Foods Ltd(NYSE:ANFI). The shares have been rated Buy. The rating by Jefferies was issued on Sep 21, 2016.

Amira Nature Foods Ltd (ANFI) shares turned negative on Tuesdays trading session with the shares closing down -0.03 points or -0.42% at a volume of 73,291. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.1884. The peak price level was also seen at $7.1884 while the days lowest was $7.09. Finally the shares closed at $7.09. The 52-week high of the shares is $14.09 while the 52-week low is $3.95. According to the latest information available, the market cap of the company is $255 M.

Amira Nature Foods Ltd(ANFI) last announced its earnings results on Jul 16, 2015 for Fiscal Year 2015 and Q4.Company reported revenue of $226.80M. Analysts had an estimated revenue of $217.26M. Earnings per share were $0.52. The reported EPS was above estimates by $0.03 or 6.12. Analysts had estimated an EPS of $0.49.

Amira Nature Foods Ltd. (ANFI) is a provider of packaged Indian specialty rice and other related rice based products. The Company’s products include snacks ready-to-heat meals organic product offerings wheat barley and legumes. ANFI sells Basmati rice a long-grain variety of rice grown only in certain regions of the Indian sub-continent under the brand name Amira. Amira branded products are sold by retailers such as Bharti Big Bazaar Carrefour Costco easyday Jetro Restaurant Depot Smart & Final Spencer’s and Tesco. In emerging markets its products are sold by retailers and supermarkets and privately-owned independent stores. The Company operates a fully-automated and integrated processing and milling facility that is strategically located in the vicinity of the key Basmati rice paddy producing regions of northern India. The facility spans a covered area of approximately 310000 square feet with a processing capacity of approximately 24 metric tons of paddy per hour.

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