Landec (NASDAQ:LNDC) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.01-0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.24. The company issued revenue guidance of approx $156.1 million, compared to the consensus revenue estimate of $150.69 million.Landec also updated its Q4 2020
After-Hours guidance to 0.01-0.06 EPS.
A number of brokerages have recently commented on LNDC. Roth Capital raised Landec from a neutral rating to a buy rating and increased their price objective for the company from $11.00 to $15.00 in a report on Tuesday, April 21st. Lake Street Capital lowered their target price on Landec from $14.00 to $10.00 and set a buy rating on the stock in a report on Monday, March 30th. Maxim Group reaffirmed a buy rating and issued a $15.00 target price on shares of Landec in a report on Thursday, April 2nd. Barrington Research raised Landec from a market perform rating to an outperform rating and set a $10.00 target price on the stock in a report on Wednesday, April 1st. Finally, Zacks Investment Research lowered Landec from a buy rating to a hold rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $12.40.
Shares of Landec stock traded up $0.18 during midday trading on Monday, hitting $9.80. 319,125 shares of the company were exchanged, compared to its average volume of 174,694. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.94 and a quick ratio of 0.52. The firm has a market cap of $280.73 million, a P/E ratio of -12.41, a PEG ratio of 2.47 and a beta of 0.98. Landec has a 52 week low of $7.53 and a 52 week high of $12.46. The firm has a 50 day simple moving average of $10.41 and a 200-day simple moving average of $10.52.
Landec (NASDAQ:LNDC) last posted its earnings results on Tuesday, March 31st. The basic materials company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business had revenue of $152.93 million during the quarter, compared to the consensus estimate of $147.15 million. Landec had a negative return on equity of 1.84% and a negative net margin of 3.97%. Equities research analysts expect that Landec will post 0.18 earnings per share for the current year.
In other news, Director Nelson Obus bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $10.80 per share, with a total value of $54,000.00. Following the purchase, the director now owns 27,915 shares of the company’s stock, valued at $301,482. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 14.99% of the company’s stock.
Landec Company Profile
Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.
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