KeyCorp Research Analysts Lift Earnings Estimates for Snyder’s-Lance Inc. (LNCE)
Snyder’s-Lance Inc. (NASDAQ:LNCE) – Investment analysts at KeyCorp raised their FY2016 earnings per share (EPS) estimates for shares of Snyder’s-Lance in a report issued on Monday. KeyCorp analyst B. Andress now expects that the brokerage will post earnings of $1.30 per share for the year, up from their prior forecast of $1.25.
Snyder’s-Lance (NASDAQ:LNCE) last posted its earnings results on Monday, November 7th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Snyder’s-Lance had a return on equity of 6.11% and a net margin of 1.48%. The firm earned $588.80 million during the quarter, compared to analyst estimates of $611.98 million. During the same period in the previous year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 41.3% on a year-over-year basis.
A number of other equities research analysts have also commented on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Snyder’s-Lance in a research report on Tuesday. Deutsche Bank AG reaffirmed a “hold” rating and set a $35.00 price target on shares of Snyder’s-Lance in a research report on Wednesday, November 2nd. Finally, DA Davidson increased their price objective on Snyder’s-Lance from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $33.85.
Shares of Snyder’s-Lance (NASDAQ:LNCE) opened at 36.75 on Wednesday. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 175.84 and a beta of 0.61. The company has a 50-day moving average price of $34.96 and a 200 day moving average price of $33.78. Snyder’s-Lance has a 12-month low of $27.93 and a 12-month high of $39.10.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNCE. Bruderman Asset Management LLC increased its position in Snyder’s-Lance by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 3,109 shares of the company’s stock worth $104,000 after buying an additional 9 shares in the last quarter. Advisor Group Inc. bought a new position in Snyder’s-Lance during the second quarter worth $111,000. Public Employees Retirement System of Ohio increased its position in Snyder’s-Lance by 10.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,435 shares of the company’s stock worth $116,000 after buying an additional 334 shares in the last quarter. LS Investment Advisors LLC increased its position in Snyder’s-Lance by 76.4% in the second quarter. LS Investment Advisors LLC now owns 4,818 shares of the company’s stock worth $163,000 after buying an additional 2,087 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Snyder’s-Lance during the second quarter worth $188,000. Hedge funds and other institutional investors own 59.56% of the company’s stock.
In other Snyder’s-Lance news, Director John E. Denton sold 6,932 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.95, for a total value of $235,341.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.60% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Monday, November 21st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.64 dividend on an annualized basis and a yield of 1.74%. Snyder’s-Lance’s dividend payout ratio is 228.57%.
Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company operates in the manufacturing, distribution, marketing and sale of snack food products segment. The Company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers and other salty snacks.
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