Brokers Offer Predictions for Landec Corp.’s Q3 2017 Earnings (LNDC)
Landec Corp. (NASDAQ:LNDC) – Stock analysts at Roth Capital cut their Q3 2017 earnings estimates for shares of Landec Corp. in a research note issued to investors on Thursday. Roth Capital analyst A. Brenner now anticipates that the brokerage will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.21.
Other analysts also recently issued research reports about the stock. Maxim Group initiated coverage on shares of Landec Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research upgraded shares of Landec Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Finally, Wedbush initiated coverage on shares of Landec Corp. in a research report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $14.32.
Landec Corp. (NASDAQ:LNDC) opened at 13.41 on Friday. The stock’s market capitalization is $369.04 million. Landec Corp. has a 12-month low of $9.48 and a 12-month high of $13.56. The firm’s 50-day moving average is $12.71 and its 200 day moving average is $11.48.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $132.40 million for the quarter. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.75%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. First Interstate Bank increased its stake in Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock valued at $135,000 after buying an additional 2,210 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Landec Corp. during the second quarter valued at about $161,000. Highbridge Capital Management LLC purchased a new position in shares of Landec Corp. during the second quarter valued at about $197,000. Prudential Financial Inc. boosted its position in shares of Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.
In related news, Director Gary T. Steele sold 34,484 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total value of $430,015.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ronald Lane Midyett sold 7,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now 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. 4.89% of the stock is currently owned by corporate insiders.
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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