Zacks: Brokerages Anticipate Landec Corporation (NASDAQ:LNDC) to Announce $0.05 EPS
Wall Street brokerages forecast that Landec Corporation (NASDAQ:LNDC) will report earnings per share (EPS) of $0.05 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Landec Corporation’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. Landec Corporation reported earnings of $0.12 per share during the same quarter last year, which would suggest a negative year over year growth rate of 58.3%. The firm is scheduled to issue its next earnings report on Tuesday, September 26th.
According to Zacks, analysts expect that Landec Corporation will report full year earnings of $0.55 per share for the current financial year. For the next financial year, analysts expect that the business will report earnings of $0.82 per share, with EPS estimates ranging from $0.66 to $0.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Landec Corporation.
Landec Corporation (NASDAQ:LNDC) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Landec Corporation had a return on equity of 4.81% and a net margin of 1.99%. The firm had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $135.46 million. During the same period last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on LNDC. BidaskClub downgraded Landec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Landec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. TheStreet downgraded Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. Finally, Wedbush reaffirmed a “hold” rating on shares of Landec Corporation in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $14.50.
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A number of large investors have recently made changes to their positions in the stock. Eagle Global Advisors LLC bought a new stake in shares of Landec Corporation during the second quarter worth approximately $161,000. Trexquant Investment LP bought a new stake in shares of Landec Corporation during the second quarter worth approximately $167,000. Crestwood Advisors Group LLC boosted its stake in shares of Landec Corporation by 7.3% in the first quarter. Crestwood Advisors Group LLC now owns 14,688 shares of the basic materials company’s stock worth $176,000 after buying an additional 1,000 shares during the period. First Interstate Bank boosted its stake in shares of Landec Corporation by 18.7% in the first quarter. First Interstate Bank now owns 15,460 shares of the basic materials company’s stock worth $186,000 after buying an additional 2,435 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Landec Corporation by 7.2% in the first quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock worth $198,000 after buying an additional 1,102 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Shares of Landec Corporation (NASDAQ:LNDC) traded up 1.18% on Friday, reaching $12.85. The company had a trading volume of 29,593 shares. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50. The company’s 50-day moving average price is $13.78 and its 200 day moving average price is $13.37. The firm has a market capitalization of $356.64 million, a P/E ratio of 33.82 and a beta of 1.40.
Landec Corporation Company Profile
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
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