Landec Corporation (LNDC) Expected to Post Earnings of $0.07 Per Share
Brokerages expect that Landec Corporation (NASDAQ:LNDC) will report $0.07 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Landec Corporation’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.07. Landec Corporation reported earnings per share of $0.05 in the same quarter last year, which would suggest a positive year-over-year growth rate of 40%. The firm is expected to announce its next earnings report on Wednesday, January 3rd.
On average, analysts expect that Landec Corporation will report full-year earnings of $0.55 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $0.75 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Landec Corporation.
Landec Corporation (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, September 26th. The basic materials company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $123.40 million for the quarter, compared to analyst estimates of $123.00 million. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. Landec Corporation’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 EPS.
Several brokerages have recently issued reports on LNDC. Zacks Investment Research downgraded shares of Landec Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wedbush reiterated a “hold” rating and set a $13.00 price target on shares of Landec Corporation in a report on Thursday, September 28th. Maxim Group reiterated a “buy” rating and set a $18.00 price target on shares of Landec Corporation in a report on Tuesday, September 26th. BidaskClub upgraded shares of Landec Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, TheStreet cut shares of Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.33.
In related news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total value of $96,630.94. Following the sale, the chief executive officer now owns 53,017 shares of the company’s stock, valued at $692,402.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.62% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of Landec Corporation by 489.6% in the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 8,171 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Landec Corporation by 17.2% in the second quarter. Russell Investments Group Ltd. now owns 182,840 shares of the basic materials company’s stock worth $2,715,000 after purchasing an additional 26,794 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Landec Corporation by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 106,220 shares of the basic materials company’s stock worth $1,275,000 after purchasing an additional 5,301 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Landec Corporation by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 209,579 shares of the basic materials company’s stock worth $3,113,000 after purchasing an additional 37,603 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Landec Corporation by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 48,065 shares of the basic materials company’s stock worth $577,000 after purchasing an additional 2,311 shares during the last quarter. 92.01% of the stock is currently owned by institutional investors.
Landec Corporation (LNDC) traded up 2.67% during midday trading on Tuesday, reaching $13.45. The company had a trading volume of 12,147 shares. The company has a market capitalization of $369.96 million, a PE ratio of 39.56 and a beta of 1.29. The stock’s 50 day moving average is $12.80 and its 200 day moving average is $13.50. Landec Corporation has a one year low of $11.20 and a one year high of $15.50.
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Landec Corporation Company Profile
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company 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 fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
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