Analysts forecast that Landec Co. (NASDAQ:LNDC) will announce sales of $149.93 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Landec’s earnings, with the lowest sales estimate coming in at $148.13 million and the highest estimate coming in at $151.47 million. Landec reported sales of $141.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The business is expected to announce its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Landec will report full year sales of $555.21 million for the current fiscal year, with estimates ranging from $553.40 million to $556.74 million. For the next year, analysts anticipate that the firm will post sales of $603.75 million, with estimates ranging from $592.85 million to $615.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that follow Landec.
Landec (NASDAQ:LNDC) last posted its earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Landec had a net margin of 1.24% and a return on equity of 3.12%. The company had revenue of $155.69 million for the quarter, compared to analyst estimates of $156.47 million. During the same quarter in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year.
LNDC has been the topic of a number of analyst reports. Roth Capital restated a “neutral” rating and issued a $12.00 target price (down previously from $16.50) on shares of Landec in a report on Monday, April 8th. BidaskClub lowered shares of Landec from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Lake Street Capital lowered their target price on shares of Landec from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Landec presently has a consensus rating of “Hold” and a consensus target price of $13.67.
In other Landec news, Director Nelson Obus bought 30,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were bought at an average cost of $10.33 per share, for a total transaction of $309,900.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $258,250. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 15.04% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Landec by 2.3% in the 4th quarter. BlackRock Inc. now owns 2,048,555 shares of the basic materials company’s stock worth $24,253,000 after purchasing an additional 46,011 shares in the last quarter. Royce & Associates LP lifted its stake in Landec by 2.3% in the 4th quarter. Royce & Associates LP now owns 1,425,254 shares of the basic materials company’s stock worth $16,875,000 after purchasing an additional 31,490 shares in the last quarter. Walthausen & Co. LLC lifted its stake in Landec by 47.8% in the 1st quarter. Walthausen & Co. LLC now owns 1,076,900 shares of the basic materials company’s stock worth $13,224,000 after purchasing an additional 348,485 shares in the last quarter. Investment Counselors of Maryland LLC lifted its stake in Landec by 2.3% in the 4th quarter. Investment Counselors of Maryland LLC now owns 797,822 shares of the basic materials company’s stock worth $9,446,000 after purchasing an additional 17,800 shares in the last quarter. Finally, AltraVue Capital LLC lifted its stake in Landec by 38.8% in the 1st quarter. AltraVue Capital LLC now owns 489,575 shares of the basic materials company’s stock worth $6,012,000 after purchasing an additional 136,820 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.
Shares of LNDC traded up $0.04 on Thursday, reaching $9.56. The company’s stock had a trading volume of 213,900 shares, compared to its average volume of 135,931. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. Landec has a twelve month low of $9.02 and a twelve month high of $15.60. The firm has a market cap of $276.36 million, a PE ratio of 23.34 and a beta of 0.85. The company has a fifty day moving average of $9.70.
Landec Company Profile
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.
Read More: Arbitrage
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.