Analysts Expect Snyder’s-Lance, Inc. (NASDAQ:LNCE) to Post $0.27 EPS
Equities research analysts expect Snyder’s-Lance, Inc. (NASDAQ:LNCE) to report earnings of $0.27 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Snyder’s-Lance’s earnings, with estimates ranging from $0.24 to $0.28. Snyder’s-Lance posted earnings per share of $0.28 during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.6%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Snyder’s-Lance will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.12. For the next year, analysts expect that the business will report earnings of $1.35 per share, with EPS estimates ranging from $1.27 to $1.45. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Snyder’s-Lance.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. The company had revenue of $531.50 million during the quarter, compared to the consensus estimate of $529.53 million. Snyder’s-Lance had a net margin of 2.25% and a return on equity of 5.36%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share.
LNCE has been the subject of a number of research reports. BidaskClub cut shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. BMO Capital Markets restated a “buy” rating and issued a $38.00 price target on shares of Snyder’s-Lance in a report on Tuesday, June 13th. Jefferies Group LLC restated a “buy” rating and issued a $44.00 price target on shares of Snyder’s-Lance in a report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, SunTrust Banks, Inc. cut shares of Snyder’s-Lance from a “buy” rating to a “hold” rating and reduced their price target for the stock from $45.00 to $30.00 in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $38.67.
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Shares of Snyder’s-Lance (LNCE) opened at 36.34 on Wednesday. The company has a market capitalization of $3.51 billion, a PE ratio of 69.09 and a beta of 0.71. Snyder’s-Lance has a 52-week low of $31.03 and a 52-week high of $40.85. The company has a 50-day moving average of $35.60 and a 200 day moving average of $37.41.
In other Snyder’s-Lance news, Director Peter P. Brubaker acquired 1,000 shares of Snyder’s-Lance stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $37.10 per share, for a total transaction of $37,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Snyder’s-Lance during the first quarter worth about $347,000. Meadow Creek Investment Management LLC boosted its position in shares of Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock worth $138,000 after buying an additional 608 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Snyder’s-Lance by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 466,553 shares of the company’s stock worth $18,807,000 after buying an additional 35,171 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Snyder’s-Lance by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock worth $871,000 after buying an additional 400 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Snyder’s-Lance by 6.8% in the first quarter. Prudential Financial Inc. now owns 56,762 shares of the company’s stock worth $2,288,000 after buying an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 65.30% of the company’s stock.
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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