Snyder’s-Lance, Inc. (LNCE) Expected to Announce Earnings of $0.34 Per Share
Brokerages expect Snyder’s-Lance, Inc. (NASDAQ:LNCE) to post earnings per share of $0.34 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Snyder’s-Lance’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.33. Snyder’s-Lance posted earnings per share of $0.35 during the same quarter last year, which suggests a negative year-over-year growth rate of 2.9%. The company is expected to announce its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Snyder’s-Lance will report full-year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.19. For the next year, analysts anticipate that the firm will post earnings of $1.27 per share, with EPS estimates ranging from $1.21 to $1.35. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Snyder’s-Lance.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $579.60 million during the quarter, compared to the consensus estimate of $565.66 million. Snyder’s-Lance had a net margin of 1.60% and a return on equity of 5.34%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS.
A number of analysts have recently weighed in on LNCE shares. TheStreet raised shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Snyder’s-Lance from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. UBS AG reissued a “neutral” rating and set a $39.00 price target (up previously from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. Jefferies Group LLC set a $44.00 price target on shares of Snyder’s-Lance and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, BidaskClub cut Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. One 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. Snyder’s-Lance currently has an average rating of “Hold” and a consensus target price of $39.80.
In related news, Director Patricia A. Warehime bought 21,263 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $37.25 per share, for a total transaction of $792,046.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia A. Warehime bought 18,839 shares of the business’s stock in a transaction on 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.
Hedge funds have recently bought and sold shares of the business. FNY Partners Fund LP bought a new stake in Snyder’s-Lance in the second quarter valued at $103,000. PNC Financial Services Group Inc. lifted its stake in 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 last quarter. Meadow Creek Investment Management LLC lifted its stake in 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 last quarter. Creative Planning lifted its stake in 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 last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in 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 last quarter. Institutional investors own 66.21% of the company’s stock.
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Shares of Snyder’s-Lance (LNCE) opened at 36.41 on Tuesday. The stock has a market cap of $3.52 billion, a P/E ratio of 98.94 and a beta of 0.71. Snyder’s-Lance has a 12 month low of $31.03 and a 12 month high of $40.85. The stock’s 50 day moving average is $36.28 and its 200 day moving average is $36.74.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, August 18th. Snyder’s-Lance’s dividend payout ratio (DPR) is presently 177.78%.
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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