Landec Corporation (LNDC) to Post Q2 2018 Earnings of $0.02 Per Share, Griffin Securities Forecasts
Landec Corporation (NASDAQ:LNDC) – Investment analysts at Griffin Securities decreased their Q2 2018 earnings per share estimates for shares of Landec in a report released on Wednesday. Griffin Securities analyst M. Ajzenman now forecasts that the basic materials company will post earnings of $0.02 per share for the quarter, down from their previous estimate of $0.07. Griffin Securities also issued estimates for Landec’s Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.52 EPS.
Landec (NASDAQ:LNDC) last announced its quarterly earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Landec had a return on equity of 4.17% and a net margin of 1.80%. The company had revenue of $123.40 million during the quarter, compared to analyst estimates of $123.00 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis.
A number of other brokerages have also issued reports on LNDC. Wedbush reiterated a “hold” rating and set a $13.00 price target on shares of Landec in a research report on Thursday, September 28th. BidaskClub upgraded Landec from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded Landec from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Maxim Group reissued a “buy” rating and issued a $18.00 price objective on shares of Landec in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.33.
Shares of Landec (LNDC) traded down $0.40 during mid-day trading on Friday, reaching $12.10. The company’s stock had a trading volume of 38,576 shares, compared to its average volume of 70,751. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 0.19. Landec has a one year low of $11.20 and a one year high of $15.50. The firm has a market cap of $332.83, a price-to-earnings ratio of 36.86 and a beta of 1.27.
Several institutional investors and hedge funds have recently bought and sold shares of LNDC. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Landec during the third quarter worth $241,000. Walthausen & Co. LLC raised its position in shares of Landec by 327.0% during the third quarter. Walthausen & Co. LLC now owns 832,715 shares of the basic materials company’s stock worth $10,784,000 after purchasing an additional 637,711 shares during the period. NWQ Investment Management Company LLC raised its position in shares of Landec by 1.4% during the third quarter. NWQ Investment Management Company LLC now owns 3,779,223 shares of the basic materials company’s stock worth $48,941,000 after purchasing an additional 53,050 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Landec by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,310,744 shares of the basic materials company’s stock worth $29,924,000 after purchasing an additional 13,077 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Landec by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 112,241 shares of the basic materials company’s stock worth $1,454,000 after purchasing an additional 5,432 shares during the period. 93.83% of the stock is currently owned by institutional investors.
In other news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was 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 approximately $692,402.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is currently owned by insiders.
Landec 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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