Analysts expect Lannett Company, Inc. (NYSE:LCI) to report earnings per share (EPS) of $0.20 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Lannett’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.25. Lannett reported earnings per share of $0.44 in the same quarter last year, which would indicate a negative year-over-year growth rate of 54.5%. The business is expected to report its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Lannett will report full-year earnings of $1.25 per share for the current year, with EPS estimates ranging from $1.10 to $1.33. For the next fiscal year, analysts forecast that the firm will post earnings of $1.67 per share, with EPS estimates ranging from $1.50 to $1.88. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Lannett.
Lannett (NYSE:LCI) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.16. The firm had revenue of $133.80 million for the quarter, compared to analyst estimates of $120.28 million. Lannett had a negative net margin of 41.52% and a positive return on equity of 28.00%. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS.
A number of equities analysts have recently commented on the stock. SunTrust Banks increased their price target on shares of Lannett from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, September 18th. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective for the company in a research note on Friday, August 30th. Roth Capital reaffirmed a “neutral” rating on shares of Lannett in a research note on Wednesday, August 28th. Finally, ValuEngine cut shares of Lannett from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.63.
Shares of NYSE:LCI traded up $0.25 during trading on Tuesday, reaching $11.69. The company had a trading volume of 599,969 shares, compared to its average volume of 1,606,131. The company has a fifty day moving average of $12.12 and a two-hundred day moving average of $7.96. The stock has a market capitalization of $473.96 million, a P/E ratio of 4.97 and a beta of 2.26. Lannett has a 12 month low of $3.33 and a 12 month high of $15.52. The company has a current ratio of 2.67, a quick ratio of 1.86 and a debt-to-equity ratio of 1.98.
In other news, Director Albert Paonessa III sold 11,582 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $10.30, for a total value of $119,294.60. Following the completion of the sale, the director now owns 62,140 shares of the company’s stock, valued at approximately $640,042. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick G. Lepore acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $9.82 per share, with a total value of $245,500.00. Following the purchase, the director now directly owns 201,340 shares in the company, valued at approximately $1,977,158.80. The disclosure for this purchase can be found here. 12.57% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Lannett by 4.6% during the 2nd quarter. BlackRock Inc. now owns 5,020,124 shares of the company’s stock valued at $30,421,000 after buying an additional 218,778 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Lannett by 10.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,451,212 shares of the company’s stock valued at $20,914,000 after buying an additional 339,593 shares during the period. Vanguard Group Inc. boosted its position in Lannett by 33.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,689,687 shares of the company’s stock valued at $16,300,000 after buying an additional 678,248 shares during the period. Morgan Stanley boosted its position in Lannett by 19.0% during the 2nd quarter. Morgan Stanley now owns 859,597 shares of the company’s stock valued at $5,210,000 after buying an additional 137,101 shares during the period. Finally, Prudential Financial Inc. boosted its position in Lannett by 5.5% during the 2nd quarter. Prudential Financial Inc. now owns 726,803 shares of the company’s stock valued at $4,404,000 after buying an additional 37,850 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.
Lannett Company Profile
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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