Wall Street brokerages forecast that Landec Co. (NASDAQ:LNDC) will post $123.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Landec’s earnings, with estimates ranging from $123.03 million to $124.59 million. Landec reported sales of $123.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.4%. The company is expected to issue its next earnings report on Tuesday, September 25th.
On average, analysts expect that Landec will report full-year sales of $553.19 million for the current financial year, with estimates ranging from $550.75 million to $555.63 million. For the next year, analysts expect that the firm will report sales of $577.62 million per share. Zacks’ sales averages are an average based on a survey of research firms that follow Landec.
Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. Landec had a return on equity of 4.85% and a net margin of 4.51%. The company had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $138.61 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year.
A number of research analysts recently commented on the company. ValuEngine raised Landec from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. BidaskClub cut Landec from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Maxim Group reissued a “buy” rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, August 1st. Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, TheStreet raised Landec from a “c+” rating to a “b” rating in a report on Tuesday, May 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.33.
NASDAQ LNDC opened at $13.60 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.10. Landec has a 12 month low of $11.42 and a 12 month high of $15.60. The company has a market capitalization of $370.27 million, a P/E ratio of 33.17 and a beta of 0.67.
Several institutional investors and hedge funds have recently modified their holdings of LNDC. Deutsche Bank AG raised its holdings in shares of Landec by 111.0% during the 4th quarter. Deutsche Bank AG now owns 60,779 shares of the basic materials company’s stock worth $765,000 after acquiring an additional 31,978 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Landec during the 4th quarter worth approximately $177,000. Wells Fargo & Company MN raised its holdings in shares of Landec by 2.1% during the 1st quarter. Wells Fargo & Company MN now owns 265,510 shares of the basic materials company’s stock worth $3,465,000 after acquiring an additional 5,555 shares in the last quarter. Algert Global LLC raised its holdings in shares of Landec by 275.4% during the 1st quarter. Algert Global LLC now owns 93,529 shares of the basic materials company’s stock worth $1,221,000 after acquiring an additional 68,617 shares in the last quarter. Finally, Buckhead Capital Management LLC raised its holdings in shares of Landec by 15.4% during the 1st quarter. Buckhead Capital Management LLC now owns 50,230 shares of the basic materials company’s stock worth $656,000 after acquiring an additional 6,720 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.
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 three segments: Packaged Fresh Vegetables, Food Export, 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.
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