Brokerages Expect Lannett Company, Inc. (LCI) Will Post Quarterly Sales of $162.91 Million
Equities analysts expect that Lannett Company, Inc. (NYSE:LCI) will report sales of $162.91 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Lannett Company’s earnings, with the lowest sales estimate coming in at $160.8 million and the highest estimate coming in at $165.1 million. Lannett Company reported sales of $168.89 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.5%. The firm is scheduled to report its next earnings results on Tuesday, August 22nd.
According to Zacks, analysts expect that Lannett Company will report full year sales of $162.91 million for the current year, with estimates ranging from $659.02 million to $663.3 million. For the next fiscal year, analysts expect that the firm will report sales of $650.27 million per share, with estimates ranging from $636.13 million to $677.4 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Lannett Company.
Lannett Company (NYSE:LCI) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.87 by $0.10. Lannett Company had a negative net margin of 3.48% and a positive return on equity of 21.95%. The company had revenue of $165.72 million for the quarter, compared to analyst estimates of $170.28 million.
Several research analysts have weighed in on LCI shares. Zacks Investment Research lowered Lannett Company from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. BMO Capital Markets started coverage on Lannett Company in a research report on Monday, May 1st. They set a “market perform” rating and a $29.00 price target on the stock. Roth Capital set a $28.00 price target on Lannett Company and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 price target on shares of Lannett Company in a research report on Wednesday, May 3rd. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett Company in a research report on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.33.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG raised its position in Lannett Company by 10.9% in the first quarter. Credit Suisse AG now owns 39,491 shares of the company’s stock worth $883,000 after buying an additional 3,892 shares during the last quarter. Tudor Investment Corp ET AL raised its position in Lannett Company by 49.5% in the first quarter. Tudor Investment Corp ET AL now owns 14,800 shares of the company’s stock worth $331,000 after buying an additional 4,900 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Lannett Company by 22.5% in the first quarter. Westwood Holdings Group Inc. now owns 181,832 shares of the company’s stock worth $4,064,000 after buying an additional 33,340 shares during the last quarter. Gotham Asset Management LLC raised its position in Lannett Company by 12.4% in the first quarter. Gotham Asset Management LLC now owns 695,498 shares of the company’s stock worth $15,544,000 after buying an additional 76,892 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Lannett Company during the first quarter worth $287,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Lannett Company (NYSE:LCI) traded down 2.494% during trading on Wednesday, reaching $20.525. The company’s stock had a trading volume of 345,374 shares. The company’s market cap is $764.15 million. Lannett Company has a 52 week low of $16.75 and a 52 week high of $39.99. The stock’s 50 day moving average price is $23.68 and its 200 day moving average price is $22.34.
Lannett Company Company Profile
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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