Snyder’s-Lance, Inc. (LNCE) Releases FY17 Earnings Guidance
Snyder’s-Lance, Inc. (NASDAQ:LNCE) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.10-1.20 for the period, compared to the Thomson Reuters consensus estimate of $1.10. The company issued revenue guidance of $2.20-2.25 billion, compared to the consensus revenue estimate of $2.21 billion.
Several equities research analysts have weighed in on the company. TheStreet raised Snyder’s-Lance from a c+ rating to a b rating in a report on Tuesday. BMO Capital Markets raised their price target on Snyder’s-Lance from $38.00 to $43.00 and gave the stock an outperform rating in a report on Wednesday. BidaskClub downgraded Snyder’s-Lance from a buy rating to a hold rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the stock a buy rating in a research note on Saturday, July 29th. Finally, UBS AG restated a neutral rating and issued a $35.00 price objective (down from $37.00) on shares of Snyder’s-Lance in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Snyder’s-Lance currently has an average rating of Hold and an average target price of $39.00.
Snyder’s-Lance, Inc. (NASDAQ:LNCE) opened at 37.44 on Thursday. The company’s 50-day moving average price is $35.25 and its 200 day moving average price is $37.21. The stock has a market capitalization of $3.62 billion, a PE ratio of 71.18 and a beta of 0.71. Snyder’s-Lance, Inc. has a 12 month low of $31.03 and a 12 month high of $40.85.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The company had revenue of $579.60 million during the quarter, compared to analysts’ expectations of $565.66 million. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Snyder’s-Lance, Inc. will post $1.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.71%. Snyder’s-Lance’s payout ratio is 177.78%.
In other Snyder’s-Lance news, Director Peter P. Brubaker bought 1,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.70% of the company’s stock.
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Snyder’s-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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