Jefferies Group Analysts Reduce Earnings Estimates for Snyder’s-Lance Inc. (LNCE)
Snyder’s-Lance Inc. (NASDAQ:LNCE) – Jefferies Group dropped their Q1 2017 earnings estimates for Snyder’s-Lance in a research report issued to clients and investors on Tuesday. Jefferies Group analyst A. Jagdale now expects that the brokerage will post earnings of $0.30 per share for the quarter, down from their prior estimate of $0.37. Jefferies Group also issued estimates for Snyder’s-Lance’s Q2 2017 earnings at $0.35 EPS, FY2017 earnings at $1.45 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.38 EPS, FY2018 earnings at $1.60 EPS, FY2019 earnings at $1.74 EPS and FY2020 earnings at $1.89 EPS.
Snyder’s-Lance (NASDAQ:LNCE) last released its quarterly earnings results on Monday, November 7th. The company reported $0.35 earnings per share (EPS) 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 company earned $588.80 million during the quarter, compared to analysts’ expectations of $611.98 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year.
Several other analysts have also weighed in on the company. Deutsche Bank AG lifted their price objective on Snyder’s-Lance from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, August 2nd. DA Davidson lifted 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. Finally, BMO Capital Markets reissued a “buy” rating on shares of Snyder’s-Lance in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Snyder’s-Lance has a consensus rating of “Buy” and a consensus target price of $33.85.
Snyder’s-Lance (NASDAQ:LNCE) opened at 37.11 on Thursday. The company has a market cap of $3.57 billion, a PE ratio of 104.24 and a beta of 0.61. Snyder’s-Lance has a 1-year low of $27.93 and a 1-year high of $39.10. The stock has a 50 day moving average price of $35.03 and a 200 day moving average price of $33.81.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Snyder’s-Lance by 1,445.3% in the first quarter. BlackRock Inc. now owns 29,933 shares of the company’s stock valued at $943,000 after buying an additional 27,996 shares during the period. State Street Corp increased its position in shares of Snyder’s-Lance by 136.8% in the first quarter. State Street Corp now owns 2,244,676 shares of the company’s stock valued at $70,657,000 after buying an additional 1,296,688 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Snyder’s-Lance by 41.9% in the first quarter. UBS Asset Management Americas Inc. now owns 47,345 shares of the company’s stock valued at $1,491,000 after buying an additional 13,975 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Snyder’s-Lance by 2.6% in the first quarter. Riverhead Capital Management LLC now owns 16,720 shares of the company’s stock worth $526,000 after buying an additional 420 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Snyder’s-Lance by 51.5% in the first quarter. Geode Capital Management LLC now owns 526,148 shares of the company’s stock worth $16,562,000 after buying an additional 178,822 shares during the last quarter. Institutional investors and hedge funds own 59.56% of the company’s stock.
In related 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 transaction of $235,341.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.60% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Investors of record on Monday, November 21st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.72%. Snyder’s-Lance’s dividend payout ratio (DPR) is presently 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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