Brokerages forecast that Lannett Company, Inc. (NYSE:LCI) will report $122.03 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lannett’s earnings, with the highest sales estimate coming in at $122.70 million and the lowest estimate coming in at $120.80 million. Lannett reported sales of $170.91 million during the same quarter last year, which indicates a negative year-over-year growth rate of 28.6%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 27th.

According to Zacks, analysts expect that Lannett will report full year sales of $643.62 million for the current fiscal year, with estimates ranging from $642.40 million to $644.27 million. For the next fiscal year, analysts anticipate that the company will post sales of $515.46 million, with estimates ranging from $498.90 million to $525.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Lannett.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Lannett from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. ValuEngine raised shares of Lannett from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating, Lannett currently has an average rating of “Hold” and an average price target of $19.45.

NYSE LCI traded up $0.01 during trading on Friday, hitting $6.49. The stock had a trading volume of 411,785 shares, compared to its average volume of 1,345,634. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.88 and a quick ratio of 2.12. The stock has a market cap of $264.45 million, a PE ratio of 2.09 and a beta of 2.41. Lannett has a one year low of $3.33 and a one year high of $13.80. The firm’s 50 day moving average price is $6.28.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zacks Investment Management acquired a new stake in Lannett in the second quarter worth about $65,000. D. E. Shaw & Co. Inc. lifted its holdings in Lannett by 10.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 3,451,212 shares of the company’s stock worth $20,914,000 after purchasing an additional 339,593 shares during the period. Marshall Wace LLP acquired a new stake in Lannett in the second quarter worth about $2,007,000. Morgan Stanley lifted its holdings in Lannett by 19.0% in the second quarter. Morgan Stanley now owns 859,597 shares of the company’s stock worth $5,210,000 after purchasing an additional 137,101 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Lannett by 38.3% in the second quarter. AQR Capital Management LLC now owns 236,971 shares of the company’s stock worth $1,436,000 after purchasing an additional 65,658 shares during the period. 82.07% of the stock is owned by institutional investors and hedge funds.

About Lannett

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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Earnings History and Estimates for Lannett (NYSE:LCI)

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