Zacks: Analysts Anticipate Landec Co. (LNDC) Will Announce Earnings of $0.15 Per Share
Wall Street analysts expect Landec Co. (NASDAQ:LNDC) to announce earnings per share of $0.15 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Landec’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.15. Landec reported earnings per share of $0.13 in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The company is expected to announce its next earnings results on Tuesday, April 3rd.
According to Zacks, analysts expect that Landec will report full-year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.49 to $0.52. For the next fiscal year, analysts forecast that the business will post earnings of $0.75 per share, with EPS estimates ranging from $0.70 to $0.79. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Landec.
Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Landec had a net margin of 1.64% and a return on equity of 3.75%. The business had revenue of $136.50 million during the quarter, compared to analyst estimates of $135.82 million. During the same period last year, the business posted $0.05 earnings per share. Landec’s quarterly revenue was up .4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. grew its position in Landec by 489.6% in the 2nd quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 8,171 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Landec in the 3rd quarter worth approximately $141,000. Citadel Advisors LLC bought a new stake in Landec in the 3rd quarter worth approximately $188,000. Alliancebernstein L.P. bought a new stake in Landec in the 2nd quarter worth approximately $241,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Landec in the 3rd quarter worth approximately $241,000. Institutional investors own 94.23% of the company’s stock.
Landec (LNDC) traded up $0.70 during mid-day trading on Friday, hitting $13.40. 114,000 shares of the stock traded hands, compared to its average volume of 67,672. Landec has a 1 year low of $11.20 and a 1 year high of $14.95. The stock has a market capitalization of $368.95, a price-to-earnings ratio of 41.88 and a beta of 1.04. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.19.
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
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