Snyders-Lance (LNCE) Posts Quarterly Earnings Results, Meets Expectations
Snyders-Lance (NASDAQ:LNCE) issued its quarterly earnings data on Thursday. The company reported $0.29 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.29, ARN reports. The company had revenue of $460.00 million for the quarter, compared to the consensus estimate of $450.23 million.
Shares of Snyders-Lance (NASDAQ:LNCE) opened at 25.45 on Thursday. Snyders-Lance has a 52-week low of $24.67 and a 52-week high of $30.52. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $26.85. The company has a market cap of $1.784 billion and a P/E ratio of 23.20.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.51%.
LNCE has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Snyders-Lance from an “underperform” rating to a “neutral” rating in a research note on Monday. They now have a $25.50 price target on the stock. Analysts at Deutsche Bank initiated coverage on shares of Snyders-Lance in a research note on Thursday, June 5th. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $28.83.
Snyder’s-Lance, Inc (NASDAQ:LNCE) is engaged in the manufacturing, distribution, marketing and sale of snack food products.
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