Lakeland Industries, Inc. (LAKE) Expected to Post Earnings of $0.18 Per Share
Wall Street brokerages predict that Lakeland Industries, Inc. (NASDAQ:LAKE) will report earnings per share (EPS) of $0.18 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Lakeland Industries’ earnings, with estimates ranging from $0.16 to $0.20. Lakeland Industries posted earnings per share of $0.21 during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The company is scheduled to issue its next earnings results on Wednesday, December 13th.
According to Zacks, analysts expect that Lakeland Industries will report full year earnings of $0.78 per share for the current year, with EPS estimates ranging from $0.75 to $0.81. For the next year, analysts expect that the company will post earnings of $0.86 per share, with EPS estimates ranging from $0.85 to $0.87. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Lakeland Industries.
Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Wednesday, September 13th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. The business had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $23.91 million. Lakeland Industries had a return on equity of 8.27% and a net margin of 6.65%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS.
A number of equities analysts have recently commented on LAKE shares. ValuEngine lowered shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Roth Capital started coverage on shares of Lakeland Industries in a research report on Wednesday, August 23rd. They set a “buy” rating and a $18.00 target price on the stock. Zacks Investment Research raised shares of Lakeland Industries from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, June 27th. Finally, TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th.
Lakeland Industries (NASDAQ:LAKE) traded up 1.11% during mid-day trading on Friday, reaching $13.70. The company’s stock had a trading volume of 103,910 shares. Lakeland Industries has a one year low of $9.23 and a one year high of $17.18. The firm’s 50 day moving average is $14.43 and its 200-day moving average is $12.48. The stock has a market cap of $99.52 million, a P/E ratio of 18.03 and a beta of -0.10.
Large investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Lakeland Industries by 4,456.5% during the second quarter. Nationwide Fund Advisors now owns 9,113 shares of the medical instruments supplier’s stock worth $132,000 after acquiring an additional 8,913 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Lakeland Industries during the second quarter worth approximately $164,000. TFS Capital LLC increased its position in shares of Lakeland Industries by 35.5% during the first quarter. TFS Capital LLC now owns 15,446 shares of the medical instruments supplier’s stock worth $166,000 after acquiring an additional 4,043 shares during the period. Teton Advisors Inc. increased its position in shares of Lakeland Industries by 7.1% during the second quarter. Teton Advisors Inc. now owns 12,211 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 811 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Lakeland Industries by 54.8% during the first quarter. Goldman Sachs Group Inc. now owns 19,556 shares of the medical instruments supplier’s stock worth $210,000 after acquiring an additional 6,924 shares during the period. 42.35% of the stock is currently owned by institutional investors and hedge funds.
About Lakeland Industries
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.
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