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

Wall Street analysts expect Landec Co. (NASDAQ:LNDC) to announce sales of $151.10 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Landec’s earnings, with the lowest sales estimate coming in at $150.00 million and the highest estimate coming in at $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 company is expected to report its next quarterly earnings results on Tuesday, August 4th.

On average, analysts expect that Landec will report full-year sales of $585.32 million for the current financial year, with estimates ranging from $584.20 million to $587.78 million. For the next fiscal 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’ sales calculations are a mean average based on a survey of research firms that follow Landec.

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

A number of analysts have recently issued reports on LNDC shares. ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Roth Capital upgraded Landec from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $15.00 in a research report on Tuesday, April 21st. Maxim Group restated a “buy” rating and set a $15.00 price objective on shares of Landec in a research report on Thursday, April 2nd. Lake Street Capital lowered their price objective on Landec from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Barrington Research upgraded Landec from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research report on Wednesday, April 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Landec has a consensus rating of “Buy” and an average target price of $12.40.

NASDAQ LNDC traded down $0.16 during trading on Friday, hitting $9.62. The company’s stock had a trading volume of 221,935 shares, compared to its average volume of 138,905. The firm has a market cap of $285.40 million, a P/E ratio of -12.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.98. The company has a quick ratio of 0.52, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. Landec has a 52 week low of $7.53 and a 52 week high of $12.46. The firm has a 50 day moving average price of $10.47 and a 200 day moving average price of $10.54.

In other Landec news, Director Nelson Obus acquired 5,000 shares of Landec stock in a transaction on Monday, May 11th. The shares were bought at an average price of $10.80 per share, with a total value of $54,000.00. Following the completion of the purchase, the director now owns 27,915 shares in the company, valued at $301,482. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.99% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Landec by 559.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,174 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 3,541 shares during the last quarter. Bank of Montreal Can raised its position in shares of Landec by 52.4% during the fourth quarter. Bank of Montreal Can now owns 3,263 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 1,122 shares during the last quarter. US Bancorp DE bought a new stake in shares of Landec during the fourth quarter worth $57,000. Citigroup Inc. raised its position in shares of Landec by 48.6% during the first quarter. Citigroup Inc. now owns 7,842 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 2,563 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Landec by 26.3% during the first quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the basic materials company’s stock worth $70,000 after acquiring an additional 1,668 shares during the last quarter. Institutional investors own 92.77% of the company’s stock.

Landec Company Profile

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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