Landec (LNDC) Releases Earnings Results, Beats Estimates By $0.01 EPS

Landec (NASDAQ:LNDC) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01, Bloomberg Earnings reports. Landec had a net margin of 1.80% and a return on equity of 4.17%. The business had revenue of $136.50 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period in the prior year, the business posted $0.05 earnings per share. Landec’s revenue for the quarter was up .4% compared to the same quarter last year. Landec updated its Q3 guidance to $0.14-0.16 EPS and its FY18 guidance to $0.52-0.58 EPS.

Shares of Landec (NASDAQ LNDC) traded down $0.10 during trading hours on Wednesday, reaching $12.50. 85,300 shares of the company were exchanged, compared to its average volume of 129,400. The company has a market capitalization of $346.58, a PE ratio of 35.71 and a beta of 1.22. Landec has a 12-month low of $11.20 and a 12-month high of $14.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.53 and a quick ratio of 1.04.

In related news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total value of $96,630.94. Following the completion of the sale, the chief executive officer now directly owns 53,017 shares in the company, valued at $692,402.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.62% of the company’s stock.

LNDC has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Landec from a “hold” rating to a “sell” rating in a research note on Saturday, December 23rd. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Landec in a research note on Tuesday, September 26th. Wedbush reaffirmed a “hold” rating and issued a $13.00 price target on shares of Landec in a research note on Thursday, September 28th. BidaskClub downgraded shares of Landec from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Finally, Sidoti initiated coverage on shares of Landec in a research note on Wednesday, December 13th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Landec has an average rating of “Hold” and a consensus target price of $15.33.

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Landec Company Profile

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.

Earnings History for Landec (NASDAQ:LNDC)

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