Q1 2018 Earnings Estimate for Landec Corp. (LNDC) Issued By Lake Street Capital
Landec Corp. (NASDAQ:LNDC) – Stock analysts at Lake Street Capital issued their Q1 2018 earnings per share (EPS) estimates for Landec Corp. in a report issued on Wednesday. Lake Street Capital analyst C. Krueger forecasts that the firm will post earnings of $0.20 per share for the quarter. Lake Street Capital also issued estimates for Landec Corp.’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.26 EPS and FY2018 earnings at $0.81 EPS.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Wedbush began coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Maxim Group began coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $16.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Landec Corp. has an average rating of “Buy” and an average target price of $14.32.
Landec Corp. (NASDAQ:LNDC) traded down 0.15% during trading on Thursday, reaching $13.41. The company had a trading volume of 117,918 shares. Landec Corp. has a 12-month low of $9.48 and a 12-month high of $13.56. The stock’s market cap is $369.04 million. The firm has a 50-day moving average price of $12.71 and a 200 day moving average price of $11.48.
Landec Corp. (NASDAQ:LNDC) last announced its earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company earned $132.40 million during the quarter. Landec Corp. had a positive return on equity of 4.75% and a negative net margin of 2.10%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share.
In other Landec Corp. news, Director Gary T. Steele sold 34,484 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ronald Lane Midyett sold 7,000 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the transaction, the chief operating officer now directly owns 111,169 shares of the company’s stock, valued at approximately $1,336,251.38. The disclosure for this sale can be found here. Company insiders own 4.89% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Landec Corp. by 109.5% in the first quarter. Franklin Resources Inc. now owns 2,140,800 shares of the company’s stock worth $22,478,000 after buying an additional 1,119,000 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its position in Landec Corp. by 145.8% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 766,600 shares of the company’s stock worth $8,248,000 after buying an additional 454,720 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Landec Corp. during the second quarter worth $3,283,000. Chartwell Investment Partners LLC purchased a new position in Landec Corp. during the second quarter worth $2,997,000. Finally, NWQ Investment Management Company LLC raised its position in Landec Corp. by 6.7% in the first quarter. NWQ Investment Management Company LLC now owns 2,484,569 shares of the company’s stock worth $26,088,000 after buying an additional 155,629 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.
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.
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