Analysts Expect Landec Corporation (LNDC) Will Post Quarterly Sales of $137.97 Million
Wall Street analysts expect Landec Corporation (NASDAQ:LNDC) to report sales of $137.97 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Landec Corporation’s earnings, with the lowest sales estimate coming in at $137.46 million and the highest estimate coming in at $138.34 million. Landec Corporation reported sales of $135.87 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The business is expected to report its next quarterly earnings report on Wednesday, January 3rd.
On average, analysts expect that Landec Corporation will report full year sales of $137.97 million for the current fiscal year, with estimates ranging from $543.34 million to $547.50 million. For the next fiscal year, analysts forecast that the business will report sales of $576.49 million per share, with estimates ranging from $573.00 million to $579.98 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Landec Corporation.
Landec Corporation (NASDAQ:LNDC) last announced its quarterly earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $123.40 million for the quarter, compared to the consensus estimate of $123.00 million. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS.
LNDC has been the subject of a number of research reports. Maxim Group reissued a “buy” rating and issued a $18.00 price target on shares of Landec Corporation in a research report on Tuesday, September 26th. TheStreet lowered shares of Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Wedbush restated a “hold” rating and issued a $13.00 price objective on shares of Landec Corporation in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Landec Corporation from a “sell” rating to a “hold” rating and set a $15.00 price objective on the stock in a research note on Wednesday, September 27th. Finally, BidaskClub lowered shares of Landec Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $15.33.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNDC. Walthausen & Co. LLC acquired a new position in Landec Corporation in the second quarter valued at $2,896,000. Royce & Associates LP increased its stake in Landec Corporation by 17.0% in the second quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock valued at $18,030,000 after purchasing an additional 176,629 shares during the period. Algert Global LLC acquired a new position in Landec Corporation in the second quarter valued at $2,012,000. Vanguard Group Inc. increased its stake in Landec Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 1,254,994 shares of the basic materials company’s stock valued at $15,060,000 after purchasing an additional 49,191 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $3,113,000 after purchasing an additional 37,603 shares during the period. Institutional investors own 92.07% of the company’s stock.
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Shares of Landec Corporation (LNDC) traded up 0.78% during midday trading on Friday, reaching $12.85. The company’s stock had a trading volume of 25,126 shares. The company has a 50 day moving average of $12.80 and a 200-day moving average of $13.42. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50. The stock has a market capitalization of $353.45 million, a price-to-earnings ratio of 33.82 and a beta of 1.29.
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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