Snyder’s-Lance, Inc. (LNCE) Issues FY17 Earnings Guidance
Snyder’s-Lance, Inc. (NASDAQ:LNCE) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.10-1.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.10. The company issued revenue guidance of $2.20-2.25 billion, compared to the consensus revenue estimate of $2.21 billion.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 34.90 on Tuesday. The firm has a market cap of $3.37 billion, a PE ratio of 66.35 and a beta of 0.71. Snyder’s-Lance, Inc. has a 52 week low of $31.03 and a 52 week high of $40.85. The company’s 50-day moving average is $35.33 and its 200-day moving average is $37.30.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.01. The firm 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%. Snyder’s-Lance’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. Analysts forecast that Snyder’s-Lance, Inc. will post $1.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, August 18th. Snyder’s-Lance’s dividend payout ratio is 123.08%.
LNCE has been the topic of several recent research reports. Jefferies Group LLC reiterated a buy rating and issued a $44.00 price target on shares of Snyder’s-Lance in a report on Wednesday, April 26th. BidaskClub cut Snyder’s-Lance from a strong-buy rating to a buy rating in a report on Saturday, June 17th. UBS AG reiterated a neutral rating and issued a $35.00 price target (down previously from $37.00) on shares of Snyder’s-Lance in a report on Tuesday, July 18th. Zacks Investment Research cut Snyder’s-Lance from a hold rating to a sell rating in a report on Tuesday, July 11th. Finally, SunTrust Banks, Inc. cut Snyder’s-Lance from a buy rating to a hold rating and reduced their target price for the stock from $45.00 to $30.00 in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Snyder’s-Lance currently has an average rating of Hold and an average target price of $38.67.
In related news, Director Peter P. Brubaker bought 1,000 shares of Snyder’s-Lance stock in a transaction on Friday, May 26th. The shares were purchased at an average price 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 at this hyperlink. 13.70% of the stock is currently owned by company insiders.
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Snyder’s-Lance Company Profile
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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