Lineage (NASDAQ:LINE) Announces Quarterly Earnings Results

Lineage (NASDAQ:LINE) released its earnings results on Monday. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.46), FiscalAI reports. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%.

Lineage Price Performance

Shares of Lineage stock traded up $0.53 during midday trading on Monday, hitting $39.66. 1,603,160 shares of the company traded hands, compared to its average volume of 1,102,786. The firm’s fifty day moving average price is $36.28 and its 200-day moving average price is $38.73. The stock has a market cap of $9.03 billion, a price-to-earnings ratio of -55.08 and a beta of 0.79. Lineage has a 12 month low of $31.33 and a 12 month high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, September 30th were issued a dividend of $0.5325 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.4%. Lineage’s payout ratio is -295.83%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore set a $43.00 price target on shares of Lineage in a research report on Friday, October 2nd. Wells Fargo & Company raised their target price on Lineage from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, September 1st. UBS Group reduced their target price on Lineage from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. JPMorgan Chase & Co. decreased their price target on Lineage from $40.00 to $37.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Finally, Wall Street Zen raised Lineage from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Lineage has an average rating of “Hold” and a consensus price target of $41.93.

Insider Buying and Selling

In related news, Chairman Kevin Marchetti acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, with a total value of $987,500.00. Following the purchase, the chairman directly owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 71.60% of the stock is currently owned by insiders.

Lineage Company Profile

Lineage, Inc is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures.

Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.

Lineage grew through acquisitions and expansion into international markets, serving customers across North America, Europe, and the Asia-Pacific region.