Q3 2018 Earnings Estimate for Landec Corporation (LNDC) Issued By Griffin Securities
Landec Corporation (NASDAQ:LNDC) – Equities researchers at Griffin Securities increased their Q3 2018 earnings per share estimates for Landec Corporation in a research report issued on Thursday. Griffin Securities analyst M. Ajzenman now anticipates that the basic materials company will post earnings of $0.23 per share for the quarter, up from their prior estimate of $0.22. Griffin Securities also issued estimates for Landec Corporation’s Q4 2018 earnings at $0.17 EPS.
Landec Corporation (NASDAQ:LNDC) last released its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. The business had revenue of $123.40 million for the quarter, compared to analyst estimates of $123.00 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. Landec Corporation’s revenue was down 6.8% on a year-over-year basis.
Several other research analysts also recently weighed in on the stock. Wedbush reaffirmed a “hold” rating and issued a $13.00 target price on shares of Landec Corporation in a report on Thursday, September 28th. Zacks Investment Research upgraded Landec Corporation from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a research note on Wednesday, September 27th. Maxim Group reissued a “buy” rating and set a $18.00 price target on shares of Landec Corporation in a report on Tuesday, September 26th. BidaskClub raised Landec Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, TheStreet downgraded Landec Corporation from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.33.
Landec Corporation (NASDAQ LNDC) traded up 0.39% on Monday, reaching $12.80. The company’s stock had a trading volume of 30,406 shares. Landec Corporation has a 52-week low of $11.20 and a 52-week high of $15.50. The firm’s 50-day moving average price is $12.84 and its 200 day moving average price is $13.42. The company has a market cap of $352.08 million, a P/E ratio of 33.68 and a beta of 1.29.
Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Landec Corporation by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 156,046 shares of the basic materials company’s stock valued at $1,872,000 after purchasing an additional 5,538 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Landec Corporation by 8.8% during the first quarter. Wells Fargo & Company MN now owns 214,335 shares of the basic materials company’s stock valued at $2,572,000 after purchasing an additional 17,300 shares in the last quarter. American International Group Inc. grew its position in shares of Landec Corporation by 7.2% during the first quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 1,102 shares in the last quarter. Royce & Associates LP grew its position in shares of Landec Corporation by 6.2% during the first quarter. Royce & Associates LP now owns 1,037,507 shares of the basic materials company’s stock valued at $12,450,000 after purchasing an additional 61,006 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of 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 worth $15,060,000 after purchasing an additional 49,191 shares during the last quarter. Hedge funds and other institutional investors own 92.07% of the company’s stock.
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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