Lancaster Colony (LANC) Set to Announce Earnings on Thursday

Lancaster Colony (NASDAQ:LANC) is set to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Lancaster Colony to post earnings of $1.42 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Lancaster Colony (NASDAQ:LANC) last posted its earnings results on Thursday, February 1st. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.27. The company had revenue of $485.92 million for the quarter, compared to analyst estimates of $489.00 million. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. On average, analysts expect Lancaster Colony to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Lancaster Colony Stock Performance

Lancaster Colony stock opened at $188.80 on Thursday. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 40.34 and a beta of 0.35. Lancaster Colony has a fifty-two week low of $158.88 and a fifty-two week high of $220.65. The stock’s fifty day moving average is $199.59 and its two-hundred day moving average is $181.55.

Lancaster Colony Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 6th. Lancaster Colony’s payout ratio is currently 76.92%.

Wall Street Analysts Forecast Growth

Separately, Stephens cut Lancaster Colony from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $205.00 to $218.00 in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lancaster Colony has an average rating of “Hold” and a consensus price target of $198.75.

Insider Buying and Selling

In related news, insider Kristin Bird sold 1,207 shares of Lancaster Colony stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the sale, the insider now owns 3,546 shares in the company, valued at approximately $683,172.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 29.60% of the stock is currently owned by company insiders.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.