Landec Corp. (LNDC) Updates Q2 Earnings Guidance
Landec Corp. (NASDAQ:LNDC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.08-0.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.08. The company issued revenue guidance of $137-142, compared to the consensus revenue estimate of $140.87 million.Landec Corp. also updated its FY17 guidance to $0.53-0.60 EPS.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 12.97 on Wednesday. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.16. The stock’s market capitalization is $353.12 million. The stock has a 50 day moving average of $12.62 and a 200-day moving average of $11.43.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Landec Corp. had a negative net margin of 2.15% and a positive return on equity of 4.53%. The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.84 million. During the same period last year, the business earned $0.11 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that Landec Corp. will post $0.57 EPS for the current year.
A number of analysts recently commented on LNDC shares. Zacks Investment Research upgraded shares of Landec Corp. from a sell rating to a hold rating in a research note on Tuesday, August 9th. Maxim Group started coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They issued a buy rating and a $16.00 target price for the company. Finally, Wedbush started coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They issued a neutral rating and a $12.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Landec Corp. currently has an average rating of Buy and a consensus price target of $14.32.
In other Landec Corp. news, Director Gary T. Steele sold 34,484 shares of Landec Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ronald Lane Midyett sold 7,000 shares of Landec Corp. stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $12.02, for a total transaction of $84,140.00. Following the sale, the chief operating officer now owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The disclosure for this sale can be found here. Company insiders own 4.89% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LNDC. Highbridge Capital Management LLC acquired a new stake in shares of Landec Corp. during the second quarter valued at approximately $197,000. Nomura Holdings Inc. acquired a new stake in shares of Landec Corp. during the second quarter valued at approximately $161,000. Teachers Advisors Inc. boosted its stake in shares of Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Landec Corp. by 33.0% in the second quarter. Franklin Resources Inc. now owns 2,847,200 shares of the company’s stock valued at $30,636,000 after buying an additional 706,400 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Landec Corp. by 0.7% in the second quarter. BlackRock Fund Advisors now owns 694,041 shares of the company’s stock valued at $7,468,000 after buying an additional 4,878 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
About Landec Corp.
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
Receive News & Stock Ratings for Landec Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec Corp. and related stocks with our FREE daily email newsletter.