Zacks: Analysts Expect Landec Co. (NASDAQ:LNDC) Will Announce Quarterly Sales of $151.10 Million

Equities research analysts predict that Landec Co. (NASDAQ:LNDC) will announce sales of $151.10 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Landec’s earnings. The lowest sales estimate is $150.00 million and the highest is $153.54 million. Landec reported sales of $152.78 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The firm is expected to report its next earnings results on Tuesday, August 4th.

On average, analysts expect that Landec will report full year sales of $585.32 million for the current fiscal year, with estimates ranging from $584.20 million to $587.78 million. For the next year, analysts anticipate that the company will report sales of $585.60 million, with estimates ranging from $549.61 million to $605.97 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Landec.

Landec (NASDAQ:LNDC) last posted its earnings results on Tuesday, March 31st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. Landec had a negative return on equity of 1.84% and a negative net margin of 3.97%. The company had revenue of $152.93 million for the quarter, compared to analyst estimates of $147.15 million.

A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Landec from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Zacks Investment Research lowered Landec from a “buy” rating to a “hold” rating in a research note on Wednesday. Lake Street Capital dropped their price target on Landec from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. ValuEngine lowered Landec from a “buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Barrington Research upgraded Landec from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $12.40.

In other news, Director Nelson Obus bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $10.80 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the director now directly owns 27,915 shares in the company, valued at $301,482. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.99% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in Landec by 52.4% in the fourth quarter. Bank of Montreal Can now owns 3,263 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 1,122 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Landec by 559.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,174 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 3,541 shares during the period. US Bancorp DE acquired a new position in Landec in the fourth quarter valued at approximately $57,000. Citigroup Inc. lifted its holdings in Landec by 48.6% in the first quarter. Citigroup Inc. now owns 7,842 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 2,563 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in Landec by 26.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 1,668 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

Shares of LNDC stock traded down $0.16 during trading hours on Friday, reaching $9.62. 221,935 shares of the company’s stock were exchanged, compared to its average volume of 138,905. Landec has a 1 year low of $7.53 and a 1 year high of $12.46. The stock has a market cap of $285.40 million, a PE ratio of -12.18, a PEG ratio of 2.51 and a beta of 0.98. The company has a current ratio of 0.94, a quick ratio of 0.52 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $10.54.

About Landec

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.

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