Wall Street brokerages expect Lannett Company, Inc. (NYSE:LCI) to announce earnings per share of $0.40 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Lannett’s earnings. Lannett posted earnings per share of $0.60 during the same quarter last year, which would suggest a negative year over year growth rate of 33.3%. The firm is scheduled to report its next earnings results on Monday, November 5th.
On average, analysts expect that Lannett will report full year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $2.09 to $2.10. For the next year, analysts expect that the business will post earnings of $1.06 per share, with EPS estimates ranging from $0.90 to $1.21. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Lannett.
Lannett (NYSE:LCI) last issued its quarterly earnings data on Tuesday, August 28th. The company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $170.90 million for the quarter, compared to analyst estimates of $171.21 million. Lannett had a return on equity of 19.92% and a net margin of 4.19%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share.
Several equities analysts have issued reports on LCI shares. Zacks Investment Research lowered Lannett from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 4th. BMO Capital Markets dropped their price objective on Lannett from $19.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, August 20th. TheStreet lowered Lannett from a “c-” rating to a “d+” rating in a report on Friday, September 14th. Raymond James lowered Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a report on Monday, August 20th. Finally, Craig Hallum lowered Lannett from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.10.
Shares of LCI stock traded up $0.12 during mid-day trading on Friday, hitting $4.03. 1,343,424 shares of the stock were exchanged, compared to its average volume of 1,048,681. The firm has a market cap of $184.78 million, a price-to-earnings ratio of 1.30 and a beta of 1.93. Lannett has a 12-month low of $3.35 and a 12-month high of $30.35. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.92 and a current ratio of 2.62.
In related news, Director Patrick G. Lepore purchased 25,000 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average price of $5.34 per share, with a total value of $133,500.00. Following the completion of the acquisition, the director now directly owns 67,895 shares in the company, valued at approximately $362,559.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 14.72% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Lannett by 9.5% during the second quarter. BlackRock Inc. now owns 4,386,677 shares of the company’s stock worth $59,660,000 after buying an additional 381,177 shares during the last quarter. LSV Asset Management lifted its position in Lannett by 2.1% in the second quarter. LSV Asset Management now owns 2,100,042 shares of the company’s stock valued at $28,560,000 after purchasing an additional 43,031 shares during the period. Heartland Advisors Inc. lifted its position in Lannett by 32.8% in the second quarter. Heartland Advisors Inc. now owns 810,500 shares of the company’s stock valued at $11,023,000 after purchasing an additional 200,000 shares during the period. Northern Trust Corp lifted its position in Lannett by 36.8% in the first quarter. Northern Trust Corp now owns 800,762 shares of the company’s stock valued at $12,852,000 after purchasing an additional 215,228 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Lannett by 12.1% in the first quarter. Russell Investments Group Ltd. now owns 517,221 shares of the company’s stock valued at $8,302,000 after purchasing an additional 55,764 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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