Q2 2017 Earnings Forecast for Landec Corp. Issued By Griffin Securities (LNDC)
Landec Corp. (NASDAQ:LNDC) – Analysts at Griffin Securities cut their Q2 2017 earnings per share estimates for shares of Landec Corp. in a note issued to investors on Thursday. Griffin Securities analyst M. Ajzenman now forecasts that the brokerage will post earnings of $0.10 per share for the quarter, down from their previous estimate of $0.11. Griffin Securities also issued estimates for Landec Corp.’s Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.57 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $0.86 EPS.
Other analysts have also issued reports about the company. Wedbush began coverage on Landec Corp. in a research report on Thursday, July 7th. They set a “neutral” rating and a $12.00 target price on the stock. Zacks Investment Research raised Landec Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Maxim Group began coverage on Landec Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $16.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.32.
Landec Corp. (NASDAQ:LNDC) opened at 13.26 on Monday. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.56. The stock’s market capitalization is $361.22 million. The stock’s 50 day moving average price is $12.76 and its 200-day moving average price is $11.54.
Landec Corp. (NASDAQ:LNDC) last issued its earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business earned $132.40 million during the quarter. Landec Corp. had a positive return on equity of 4.74% and a negative net margin of 2.10%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share.
A number of institutional investors have recently bought and sold shares of LNDC. First Interstate Bank increased its position in shares of Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock worth $135,000 after buying an additional 2,210 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Landec Corp. during the second quarter worth approximately $161,000. Highbridge Capital Management LLC bought a new position in shares of Landec Corp. during the second quarter worth approximately $197,000. Prudential Financial Inc. increased 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 worth $292,000 after buying an additional 2,200 shares during the last quarter. Finally, Teachers Advisors Inc. increased 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 worth $491,000 after buying an additional 3,111 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.
In related news, COO Ronald Lane Midyett sold 7,000 shares of Landec Corp. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $12.02, for a total value of $84,140.00. Following the completion of the transaction, the chief operating officer now directly owns 111,169 shares in the company, valued at $1,336,251.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary T. Steele sold 34,484 shares of Landec Corp. stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $12.47, for a total value of $430,015.48. The disclosure for this sale can be found here. 4.89% of the stock is owned by corporate insiders.
Landec Corp. Company Profile
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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