Snyder’s-Lance Inc. (LNCE) to Post FY2016 Earnings of $1.29 Per Share, DA Davidson Forecasts
Snyder’s-Lance Inc. (NASDAQ:LNCE) – Research analysts at DA Davidson raised their FY2016 earnings per share estimates for shares of Snyder’s-Lance in a research note issued to investors on Tuesday. DA Davidson analyst E. Gottlieb now anticipates that the firm will post earnings per share of $1.29 for the year, up from their previous estimate of $1.27. DA Davidson has a “Buy” rating and a $42.00 price target on the stock. DA Davidson also issued estimates for Snyder’s-Lance’s Q4 2016 earnings at $0.40 EPS, Q1 2017 earnings at $0.37 EPS, Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.45 EPS and FY2017 earnings at $1.65 EPS.
Other research analysts have also recently issued research reports about the stock. BMO Capital Markets reiterated a “buy” rating on shares of Snyder’s-Lance in a report on Tuesday. Deutsche Bank AG restated a “hold” rating and issued a $35.00 target price on shares of Snyder’s-Lance in a report on Wednesday, November 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.85.
Snyder’s-Lance (NASDAQ:LNCE) opened at 36.75 on Wednesday. The stock has a market cap of $3.53 billion, a PE ratio of 175.84 and a beta of 0.61. Snyder’s-Lance has a 12-month low of $27.93 and a 12-month high of $39.10. The firm has a 50-day moving average of $34.96 and a 200-day moving average of $33.78.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings data on Monday, November 7th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Snyder’s-Lance had a net margin of 1.48% and a return on equity of 6.11%. The company earned $588.80 million during the quarter, compared to analysts’ expectations of $611.98 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Snyder’s-Lance by 1,445.3% in the first quarter. BlackRock Inc. now owns 29,933 shares of the company’s stock worth $943,000 after buying an additional 27,996 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Snyder’s-Lance during the second quarter worth $1,973,000. Vanguard Group Inc. boosted its stake in shares of Snyder’s-Lance by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,772,887 shares of the company’s stock worth $195,643,000 after buying an additional 508,436 shares in the last quarter. Prudential PLC acquired a new stake in shares of Snyder’s-Lance during the first quarter worth $4,743,000. Finally, Managed Asset Portfolios LLC boosted its stake in shares of Snyder’s-Lance by 11.4% in the first quarter. Managed Asset Portfolios LLC now owns 240,566 shares of the company’s stock worth $7,573,000 after buying an additional 24,714 shares in the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.
In related news, Director John E. Denton sold 6,932 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $33.95, for a total transaction of $235,341.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.60% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Monday, November 21st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, November 17th. Snyder’s-Lance’s dividend payout ratio is currently 228.57%.
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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