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.

ILLEGAL ACTIVITY WARNING: “Landec Corporation (LNDC) Expected to Post Earnings of $0.07 Per Share” was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/10/27/landec-corporation-lndc-expected-to-post-earnings-of-0-07-per-share.html.

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.

Get a free copy of the Zacks research report on Landec Corporation (LNDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Landec Corporation (NASDAQ:LNDC)

Receive News & Ratings for Landec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec Corporation and related companies with MarketBeat.com's FREE daily email newsletter.