Landec (LNDC) Releases Q3 Earnings Guidance

Landec (NASDAQ:LNDC) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.14-0.16 for the period, compared to the Thomson Reuters consensus estimate of $0.23. The company issued revenue guidance of $140-145 million, compared to the consensus revenue estimate of $147.65 million.Landec also updated its FY18 guidance to $0.52-0.58 EPS.

Shares of Landec (NASDAQ:LNDC) traded down $0.10 during mid-day trading on Wednesday, reaching $12.50. 85,300 shares of the company’s stock were exchanged, compared to its average volume of 129,400. Landec has a 1 year low of $11.20 and a 1 year high of $14.95. The company has a market capitalization of $346.58, a PE ratio of 35.71 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19.

Landec (NASDAQ:LNDC) last posted its earnings results on Wednesday, January 3rd. The basic materials company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $136.50 million for the quarter, compared to analyst estimates of $135.82 million. Landec had a net margin of 1.80% and a return on equity of 4.17%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. analysts forecast that Landec will post 0.51 EPS for the current year.

LNDC has been the topic of a number of research analyst reports. Maxim Group reiterated a buy rating and issued a $18.00 price target on shares of Landec in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Landec from a sell rating to a hold rating and set a $15.00 price target on the stock in a research note on Wednesday, September 27th. Wedbush reiterated a hold rating and issued a $13.00 price target on shares of Landec in a research note on Thursday, September 28th. BidaskClub lowered shares of Landec from a sell rating to a strong sell rating in a research note on Tuesday, December 5th. Finally, Sidoti started 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 stock. The company has a consensus rating of Hold and a consensus target price of $15.33.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction dated 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 owns 53,017 shares of the company’s stock, valued at approximately $692,402.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.62% of the company’s stock.

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About Landec

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 and Estimates for Landec (NASDAQ:LNDC)

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