Snyder’s-Lance, Inc. to Post Q3 2017 Earnings of $0.33 Per Share, SunTrust Banks Forecasts (NASDAQ:LNCE)
Snyder’s-Lance, Inc. (NASDAQ:LNCE) – Research analysts at SunTrust Banks increased their Q3 2017 earnings per share (EPS) estimates for Snyder’s-Lance in a report issued on Tuesday. SunTrust Banks analyst W. Chappell now anticipates that the company will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.30. SunTrust Banks has a “Hold” rating and a $30.00 price objective on the stock. SunTrust Banks also issued estimates for Snyder’s-Lance’s Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.19 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.35 EPS, FY2018 earnings at $1.26 EPS and FY2019 earnings at $1.58 EPS.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $579.60 million for the quarter, compared to analyst estimates of $565.66 million. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share.
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A number of other brokerages also recently issued reports on LNCE. BMO Capital Markets increased their target price on Snyder’s-Lance from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday. TheStreet raised Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday. Zacks Investment Research raised Snyder’s-Lance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BidaskClub downgraded Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Jefferies Group LLC set a $44.00 price objective on Snyder’s-Lance and gave the company a “buy” rating in a research note on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Snyder’s-Lance has an average rating of “Hold” and a consensus target price of $39.00.
Shares of Snyder’s-Lance (NASDAQ:LNCE) opened at 37.44 on Thursday. The stock has a 50 day moving average price of $35.25 and a 200-day moving average price of $37.21. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 71.18 and a beta of 0.71. Snyder’s-Lance has a 52 week low of $31.03 and a 52 week high of $40.85.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, August 18th. Snyder’s-Lance’s payout ratio is currently 177.78%.
In other news, Director Peter P. Brubaker acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $37.10 per share, with a total value of $37,100.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 13.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its position in Snyder’s-Lance by 4.2% in the first quarter. Great West Life Assurance Co. Can now owns 50,965 shares of the company’s stock valued at $2,054,000 after buying an additional 2,040 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Snyder’s-Lance by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 29,905 shares of the company’s stock valued at $1,205,000 after buying an additional 400 shares during the last quarter. Strs Ohio increased its position in Snyder’s-Lance by 3.2% in the first quarter. Strs Ohio now owns 9,800 shares of the company’s stock valued at $395,000 after buying an additional 300 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new position in Snyder’s-Lance during the first quarter valued at $403,000. Finally, Janney Montgomery Scott LLC increased its position in Snyder’s-Lance by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,306 shares of the company’s stock valued at $496,000 after buying an additional 739 shares during the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.
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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