Landec (NASDAQ:LNDC) Issues Earnings Results, Misses Expectations By $0.11 EPS


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Landec (NASDAQ:LNDC) released its quarterly earnings data on Tuesday. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11), Fidelity Earnings reports. Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.

NASDAQ:LNDC opened at $10.95 on Thursday. Landec has a 1 year low of $7.48 and a 1 year high of $12.24. The firm has a 50 day moving average of $11.26 and a 200-day moving average of $10.69. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $321.09 million, a P/E ratio of -6.29, a price-to-earnings-growth ratio of 33.84 and a beta of 1.04.

In other news, Director Nelson Obus bought 6,400 shares of the business’s stock in a transaction dated Monday, January 11th. The stock was bought at an average price of $10.81 per share, for a total transaction of $69,184.00. Following the completion of the purchase, the director now owns 36,115 shares of the company’s stock, valued at approximately $390,403.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Albert D. Bolles bought 10,000 shares of the business’s stock in a transaction dated Tuesday, January 19th. The stock was purchased at an average price of $10.98 per share, with a total value of $109,800.00. Following the purchase, the chief executive officer now directly owns 36,152 shares of the company’s stock, valued at approximately $396,948.96. The disclosure for this purchase can be found here. Insiders bought 20,400 shares of company stock valued at $224,844 in the last quarter. 11.89% of the stock is currently owned by corporate insiders.

Separately, Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a report on Tuesday, March 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.25.

About Landec

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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Earnings History for Landec (NASDAQ:LNDC)

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