Landec (LNDC) Updates FY18 Earnings Guidance

Landec (NASDAQ:LNDC) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.52-0.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.52. The company issued revenue guidance of +2-4% to ~$542.9-553.6 million, compared to the consensus revenue estimate of $544.38 million.Landec also updated its Q3 guidance to $0.14-0.16 EPS.

Several research firms recently weighed in on LNDC. Wedbush reiterated a hold rating and issued a $13.00 price target on shares of Landec in a report on Thursday, September 28th. Zacks Investment Research cut shares of Landec from a strong-buy rating to a hold rating in a report on Wednesday, October 25th. Maxim Group reiterated a buy rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, November 29th. BidaskClub cut shares of Landec from a sell rating to a strong sell rating in a report on Tuesday, December 5th. Finally, Sidoti began coverage on shares of Landec in a report on Wednesday, December 13th. They issued a buy rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $15.33.

Shares of Landec (NASDAQ LNDC) traded down $0.10 during mid-day trading on Wednesday, hitting $12.50. 85,300 shares of the 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 cap 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 announced its earnings results on Wednesday, January 3rd. The basic materials company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. Landec had a net margin of 1.80% and a return on equity of 4.17%. The firm had revenue of $136.50 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. equities research analysts expect that Landec will post 0.51 earnings per share for the current year.

In other news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the sale, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.62% of the company’s stock.

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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 and Estimates for Landec (NASDAQ:LNDC)

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