$552.81 Million in Sales Expected for Snyder’s-Lance, Inc. (LNCE) This Quarter
Analysts forecast that Snyder’s-Lance, Inc. (NASDAQ:LNCE) will post $552.81 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Snyder’s-Lance’s earnings. The lowest sales estimate is $551.10 million and the highest is $555.00 million. Snyder’s-Lance reported sales of $588.80 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Snyder’s-Lance will report full year sales of $552.81 million for the current financial year, with estimates ranging from $2.22 billion to $2.23 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.21 billion per share, with estimates ranging from $2.20 billion to $2.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Snyder’s-Lance.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $579.60 million during the quarter, compared to the consensus estimate of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share.
LNCE has been the topic of a number of research reports. BMO Capital Markets restated a “buy” rating and set a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. UBS AG restated a “neutral” rating and set a $35.00 price objective (down from $37.00) on shares of Snyder’s-Lance in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the company a “buy” rating in a research report on Saturday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Snyder’s-Lance presently has a consensus rating of “Hold” and an average price target of $39.80.
Snyder’s-Lance (NASDAQ:LNCE) traded up 0.90% during trading on Thursday, reaching $36.98. 674,869 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $36.34 and its 200-day moving average price is $36.72. Snyder’s-Lance has a 52-week low of $31.03 and a 52-week high of $40.85. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 100.49 and a beta of 0.71.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, August 18th. Snyder’s-Lance’s dividend payout ratio (DPR) is 177.78%.
In other Snyder’s-Lance news, Director Isaiah Tidwell sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $37.35, for a total value of $56,025.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia A. Warehime purchased 21,263 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $37.25 per share, for a total transaction of $792,046.75. The disclosure for this purchase can be found here. Corporate insiders own 13.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC bought a new stake in Snyder’s-Lance in the second quarter valued at $14,921,000. Phocas Financial Corp. grew its position in Snyder’s-Lance by 4.7% in the second quarter. Phocas Financial Corp. now owns 207,959 shares of the company’s stock valued at $7,200,000 after acquiring an additional 9,281 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Snyder’s-Lance in the second quarter valued at $614,000. Public Employees Retirement System of Ohio grew its position in Snyder’s-Lance by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock valued at $148,000 after acquiring an additional 214 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in Snyder’s-Lance by 3.3% in the second quarter. Ameritas Investment Partners Inc. now owns 33,293 shares of the company’s stock valued at $1,153,000 after acquiring an additional 1,069 shares during the period. Hedge funds and other institutional investors own 66.21% of the company’s stock.
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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