Snyder’s-Lance, Inc. (NASDAQ:LNCE) – Research analysts at Jefferies Group cut their Q2 2018 earnings per share estimates for Snyder’s-Lance in a research report issued to clients and investors on Wednesday. Jefferies Group analyst A. Jagdale now expects that the company will earn $0.30 per share for the quarter, down from their prior forecast of $0.32. Jefferies Group currently has a “Buy” rating and a $44.00 target price on the stock. Jefferies Group also issued estimates for Snyder’s-Lance’s Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.41 EPS and FY2020 earnings at $1.89 EPS.

Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $579.60 million during the quarter, compared to analysts’ expectations of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/18/jefferies-group-research-analysts-cut-earnings-estimates-for-snyders-lance-inc-lnce.html.

A number of other research firms have also issued reports on LNCE. BMO Capital Markets reissued an “outperform” rating and set a $43.00 target price (up from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday, August 8th. UBS AG reissued a “neutral” rating and set a $39.00 target price (up from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub lowered shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Snyder’s-Lance has an average rating of “Hold” and an average price target of $39.80.

Snyder’s-Lance (LNCE) traded down 0.30% on Friday, reaching $36.81. 92,561 shares of the company traded hands. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The company has a market capitalization of $3.56 billion, a P/E ratio of 100.03 and a beta of 0.71. The company has a 50-day moving average price of $35.54 and a 200-day moving average price of $37.18.

The business also recently declared 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, August 18th. Snyder’s-Lance’s dividend payout ratio is currently 177.78%.

In related news, Director Peter P. Brubaker purchased 1,000 shares of Snyder’s-Lance stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of $37.10 per share, with a total value of $37,100.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patricia A. Warehime purchased 18,839 shares of Snyder’s-Lance stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $37.24 per share, with a total value of $701,564.36. The disclosure for this purchase can be found here. Corporate insiders own 13.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of Snyder’s-Lance by 0.4% in the second quarter. M&T Bank Corp now owns 7,808 shares of the company’s stock worth $270,000 after buying an additional 28 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Snyder’s-Lance by 0.4% in the first quarter. Oppenheimer & Co. Inc. now owns 16,635 shares of the company’s stock worth $671,000 after buying an additional 65 shares in the last quarter. Atria Investments LLC raised its stake in shares of Snyder’s-Lance by 1.1% in the second quarter. Atria Investments LLC now owns 6,193 shares of the company’s stock worth $214,000 after buying an additional 65 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Snyder’s-Lance by 1.1% in the first quarter. BB&T Securities LLC now owns 8,062 shares of the company’s stock worth $324,000 after buying an additional 84 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Snyder’s-Lance by 1.6% in the first quarter. Capstone Asset Management Co. now owns 5,751 shares of the company’s stock worth $232,000 after buying an additional 90 shares in the last quarter. 60.83% of the stock is owned by institutional investors.

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.

Earnings History and Estimates for Snyder`s-Lance (NASDAQ:LNCE)

Receive News & Ratings for Snyder's-Lance Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance Inc. and related companies with MarketBeat.com's FREE daily email newsletter.