Q3 2017 EPS Estimates for Snyder’s-Lance, Inc. (LNCE) Lifted by Jefferies Group
Snyder’s-Lance, Inc. (NASDAQ:LNCE) – Stock analysts at Jefferies Group upped their Q3 2017 earnings estimates for shares of Snyder’s-Lance in a research report issued to clients and investors on Wednesday. Jefferies Group analyst A. Jagdale now forecasts that the company will earn $0.35 per share for the quarter, up from their previous estimate of $0.32. Jefferies Group has a “Buy” rating and a $44.00 price target on the stock. Jefferies Group also issued estimates for Snyder’s-Lance’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.15 EPS, Q1 2018 earnings at $0.13 EPS, FY2018 earnings at $1.21 EPS, Q1 2019 earnings at $0.21 EPS and FY2021 earnings at $2.02 EPS.
LNCE has been the topic of several other research reports. Zacks Investment Research raised shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub lowered shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. UBS AG reaffirmed a “neutral” rating and set a $39.00 price objective (up previously from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. Finally, TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.80.
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Shares of Snyder’s-Lance (LNCE) opened at 37.56 on Thursday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 102.07 and a beta of 0.71. Snyder’s-Lance has a 1-year low of $31.03 and a 1-year high of $40.85. The firm’s 50-day moving average is $35.48 and its 200 day moving average is $37.18.
Snyder’s-Lance (NASDAQ:LNCE) last released its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The firm had revenue of $579.60 million during the quarter, compared to the consensus estimate of $565.66 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Snyder’s-Lance’s revenue was up 3.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 22nd will be paid a $0.16 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.70%. Snyder’s-Lance’s payout ratio is 177.78%.
In related news, Director Peter P. Brubaker acquired 1,000 shares of the stock in a transaction dated Friday, May 26th. The shares were acquired 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. Also, Director Patricia A. Warehime acquired 18,839 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $37.24 per share, for a total transaction of $701,564.36. The disclosure for this purchase can be found here. Company insiders own 13.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP purchased a new position in shares of Snyder’s-Lance during the second quarter valued at approximately $103,000. PNC Financial Services Group Inc. boosted its position in shares of Snyder’s-Lance by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock valued at $107,000 after buying an additional 465 shares during the period. 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 valued at $138,000 after buying an additional 608 shares during the period. Creative Planning boosted its position in shares of Snyder’s-Lance by 68.7% in the second quarter. Creative Planning now owns 4,083 shares of the company’s stock valued at $141,000 after buying an additional 1,663 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Snyder’s-Lance by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock valued at $148,000 after buying an additional 214 shares during the period. 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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