Zacks: Analysts Anticipate Lannett Co Inc (LCI) Will Post Quarterly Sales of $162.91 Million
Equities research analysts expect Lannett Co Inc (NYSE:LCI) to report sales of $162.91 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Lannett Co’s earnings, with the highest sales estimate coming in at $165.10 million and the lowest estimate coming in at $160.80 million. Lannett Co 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 business is expected to issue its next quarterly earnings results on Tuesday, August 22nd.
On average, analysts expect that Lannett Co will report full-year sales of $162.91 million for the current fiscal year, with estimates ranging from $659.02 million to $663.30 million. For the next fiscal year, analysts anticipate that the firm will report sales of $650.27 million per share, with estimates ranging from $636.13 million to $677.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Lannett Co.
Lannett Co (NYSE:LCI) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.10. The company had revenue of $165.72 million for the quarter, compared to the consensus estimate of $170.28 million. Lannett Co had a negative net margin of 0.41% and a positive return on equity of 22.13%.
LCI has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Lannett Co from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. BMO Capital Markets initiated coverage on shares of Lannett Co in a research note on Monday, May 1st. They issued a “market perform” rating and a $29.00 target price for the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lannett Co in a research note on Tuesday, May 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $18.00 target price on shares of Lannett Co in a research note on Wednesday, May 3rd. Finally, ValuEngine cut shares of Lannett Co from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lannett Co presently has an average rating of “Hold” and a consensus target price of $28.33.
A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its stake in shares of Lannett Co by 5.5% in the fourth quarter. Comerica Bank now owns 31,180 shares of the company’s stock valued at $633,000 after buying an additional 1,634 shares during the last quarter. State Street Corp boosted its stake in shares of Lannett Co by 13.7% in the fourth quarter. State Street Corp now owns 1,186,674 shares of the company’s stock valued at $26,169,000 after buying an additional 142,616 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lannett Co by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 966,777 shares of the company’s stock valued at $21,318,000 after buying an additional 28,904 shares during the last quarter. FMR LLC acquired a new stake in shares of Lannett Co during the fourth quarter valued at approximately $7,784,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Lannett Co by 39.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,037 shares of the company’s stock valued at $244,000 after buying an additional 3,142 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.
Shares of Lannett Co (NYSE LCI) traded down 2.745% on Friday, reaching $20.375. 290,389 shares of the company were exchanged. Lannett Co has a 52 week low of $16.75 and a 52 week high of $39.99. The firm’s 50 day moving average price is $20.02 and its 200 day moving average price is $21.78. The stock’s market capitalization is $758.56 million.
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About Lannett Co
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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