Brokerages Anticipate Lannett Company, Inc. (NYSE:LCI) Will Post Quarterly Sales of $133.66 Million
Brokerages expect Lannett Company, Inc. (NYSE:LCI) to report sales of $133.66 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lannett’s earnings, with estimates ranging from $132.30 million to $136.30 million. Lannett posted sales of $133.84 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.1%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 25th.
According to Zacks, analysts expect that Lannett will report full year sales of $541.47 million for the current year, with estimates ranging from $540.10 million to $544.10 million. For the next year, analysts expect that the business will report sales of $560.56 million, with estimates ranging from $531.90 million to $591.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Lannett.
Lannett (NYSE:LCI) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Lannett had a negative net margin of 5.77% and a positive return on equity of 14.54%. The company had revenue of $144.37 million for the quarter, compared to analyst estimates of $134.55 million. During the same quarter in the prior year, the company posted $0.68 EPS. Lannett’s revenue for the quarter was down 16.4% on a year-over-year basis.
Shares of NYSE LCI traded down $0.05 during trading on Thursday, hitting $7.09. 408,000 shares of the company traded hands, compared to its average volume of 690,754. The business’s fifty day moving average is $7.41 and its 200 day moving average is $8.19. Lannett has a fifty-two week low of $5.46 and a fifty-two week high of $15.52. The firm has a market capitalization of $288.11 million, a price-to-earnings ratio of -8.65 and a beta of 1.85. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.37 and a current ratio of 1.97.
In related news, Director David A. Drabik sold 37,220 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $7.37, for a total value of $274,311.40. Following the sale, the director now owns 45,972 shares in the company, valued at approximately $338,813.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.86% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Lannett in the 4th quarter worth about $25,000. Meeder Asset Management Inc. purchased a new stake in Lannett in the 4th quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Lannett in the 1st quarter valued at about $42,000. Metropolitan Life Insurance Co NY purchased a new stake in Lannett in the 1st quarter valued at about $77,000. Finally, Aperio Group LLC purchased a new stake in Lannett in the 1st quarter valued at about $77,000. Institutional investors own 91.31% of the company’s stock.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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