Landec (NASDAQ:LNDC) Updates FY 2021 Earnings Guidance


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Landec (NASDAQ:LNDC) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $523 million-$532 million, compared to the consensus revenue estimate of $542.33 million.

A number of research firms have weighed in on LNDC. TheStreet lowered shares of Landec from a c rating to a d+ rating in a research note on Friday, April 9th. Lake Street Capital lowered their price target on shares of Landec from $13.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 8th. Roth Capital lowered their price target on shares of Landec from $15.00 to $12.00 and set a buy rating on the stock in a report on Thursday, April 15th. Finally, Zacks Investment Research raised shares of Landec from a sell rating to a hold rating in a report on Tuesday, March 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $12.75.

Shares of Landec stock traded down $0.14 during midday trading on Tuesday, hitting $11.55. The company had a trading volume of 74,082 shares, compared to its average volume of 133,743. Landec has a 12-month low of $7.48 and a 12-month high of $12.24. The company has a fifty day simple moving average of $11.00 and a 200 day simple moving average of $10.85. The company has a quick ratio of 0.48, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The stock has a market cap of $338.80 million, a price-to-earnings ratio of -6.67, a PEG ratio of 33.84 and a beta of 1.04.

Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, April 6th. The basic materials company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Landec had a negative return on equity of 0.04% and a negative net margin of 8.85%. As a group, analysts expect that Landec will post 0.03 EPS for the current year.

In other news, Director Patrick D. Walsh bought 10,000 shares of the company’s stock in a transaction on Tuesday, April 20th. The stock was bought at an average cost of $11.26 per share, with a total value of $112,600.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $450,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wynnefield Partners Small Cap bought 72,515 shares of the company’s stock in a transaction on Monday, April 12th. The stock was purchased at an average cost of $10.02 per share, with a total value of $726,600.30. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 116,560 shares of company stock worth $1,201,570. Insiders own 11.89% of the company’s stock.

About Landec

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.

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Earnings History and Estimates for Landec (NASDAQ:LNDC)

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