Snyder’s-Lance, Inc. (LNCE) Expected to Announce Quarterly Sales of $552.81 Million
Brokerages expect Snyder’s-Lance, Inc. (NASDAQ:LNCE) to report $552.81 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Snyder’s-Lance’s earnings. The lowest sales estimate is $551.10 million and the highest is $555.00 million. Snyder’s-Lance posted sales of $588.80 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6.1%. The firm is scheduled to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Snyder’s-Lance will report full year sales of $552.81 million for the current fiscal year. For the next financial year, analysts anticipate that the business will report sales of $2.22 billion per share, with estimates ranging from $2.20 billion to $2.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Snyder’s-Lance.
Snyder’s-Lance (NASDAQ:LNCE) last issued its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $579.60 million during the quarter, compared to analyst estimates of $565.66 million. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS.
A number of equities research analysts have recently commented on LNCE shares. TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $44.00 target price on shares of Snyder’s-Lance and gave the company a “buy” rating in a report on Saturday, July 29th. 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 reaffirmed a “buy” rating and issued a $38.00 target price on shares of Snyder’s-Lance in a report on Tuesday, June 13th. Finally, Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.80.
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Snyder’s-Lance (LNCE) opened at 37.38 on Tuesday. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 101.58 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 price of $35.37 and a 200-day moving average price of $37.18.
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 dividend of $0.16 per share. The ex-dividend date is Friday, August 18th. This represents a $0.64 annualized dividend and a yield of 1.71%. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.
In other news, Director Peter P. Brubaker purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNCE. BlackRock Inc. boosted its position in Snyder’s-Lance by 1.7% in the second quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock valued at $300,013,000 after buying an additional 145,840 shares in the last quarter. Vanguard Group Inc. boosted its position in Snyder’s-Lance by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,597,352 shares of the company’s stock valued at $265,939,000 after buying an additional 329,799 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Snyder’s-Lance by 7.1% in the first quarter. Champlain Investment Partners LLC now owns 4,195,470 shares of the company’s stock valued at $169,119,000 after buying an additional 279,540 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Snyder’s-Lance by 108.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock valued at $144,210,000 after buying an additional 2,166,488 shares in the last quarter. Finally, State Street Corp boosted its position in Snyder’s-Lance by 5.7% in the second quarter. State Street Corp now owns 2,805,872 shares of the company’s stock valued at $97,137,000 after buying an additional 150,943 shares in the last quarter. 60.83% of the stock is owned by hedge funds and other institutional investors.
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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