Zacks: Analysts Expect Lakeland Industries, Inc. (LAKE) Will Announce Quarterly Sales of $25.06 Million
Equities research analysts expect Lakeland Industries, Inc. (NASDAQ:LAKE) to post sales of $25.06 million for the current quarter, according to Zacks. Two analysts have issued estimates for Lakeland Industries’ earnings, with estimates ranging from $24.41 million to $25.71 million. Lakeland Industries reported sales of $23.24 million in the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The business is expected to announce its next earnings results on Wednesday, December 13th.
On average, analysts expect that Lakeland Industries will report full year sales of $25.06 million for the current year, with estimates ranging from $93.20 million to $94.22 million. For the next year, analysts forecast that the business will post sales of $97.79 million per share, with estimates ranging from $97.47 million to $98.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Industries.
Lakeland Industries (NASDAQ:LAKE) last issued its earnings results on Wednesday, September 13th. The medical instruments supplier reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Lakeland Industries had a net margin of 6.65% and a return on equity of 8.27%. The company had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $23.91 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.
Lakeland Industries (LAKE) opened at $13.75 on Friday. Lakeland Industries has a 1-year low of $9.85 and a 1-year high of $17.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.75 and a quick ratio of 2.70. The stock has a market cap of $111.25, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.66 and a beta of -0.11.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Lakeland Industries by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 425,343 shares of the medical instruments supplier’s stock worth $4,572,000 after purchasing an additional 11,716 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in 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 last quarter. Royal Bank of Canada boosted its position in Lakeland Industries by 132.6% during the second quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock worth $2,262,000 after acquiring an additional 88,910 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in Lakeland Industries during the third quarter worth approximately $353,000. Finally, Granite Investment Partners LLC acquired a new position in Lakeland Industries in the 2nd quarter valued at approximately $1,127,000. 55.52% of the stock is owned by institutional investors and hedge funds.
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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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