Landec Co. (NASDAQ:LNDC) Expected to Announce Quarterly Sales of $151.10 Million

Equities analysts forecast that Landec Co. (NASDAQ:LNDC) will post $151.10 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Landec’s earnings, with estimates ranging from $150.00 million to $153.54 million. Landec posted sales of $152.78 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The business is scheduled to issue its next earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Landec will report full-year sales of $585.32 million for the current year, with estimates ranging from $584.20 million to $587.78 million. For the next year, analysts forecast that the company will report sales of $585.60 million, with estimates ranging from $549.61 million to $605.97 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Landec.

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

Several brokerages have issued reports on LNDC. ValuEngine cut shares of Landec from a “buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Barrington Research raised shares of Landec from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Wednesday, April 1st. Maxim Group reissued a “buy” rating and issued a $15.00 price objective on shares of Landec in a research note on Thursday, April 2nd. BidaskClub cut shares of Landec from a “hold” rating to a “sell” rating in a research note on Friday, June 5th. Finally, Lake Street Capital decreased their target price on shares of Landec from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. One equities 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. The company currently has an average rating of “Buy” and an average price target of $12.40.

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

In related news, Director Nelson Obus bought 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $10.80 per share, for a total transaction of $54,000.00. Following the transaction, the director now owns 27,915 shares of the company’s stock, 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 currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of Landec by 52.4% in the 4th quarter. Bank of Montreal Can now owns 3,263 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Landec by 559.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,174 shares of the basic materials company’s stock worth $36,000 after buying an additional 3,541 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Landec in the 4th quarter worth about $57,000. Citigroup Inc. boosted its position in shares of Landec by 48.6% in the 1st quarter. Citigroup Inc. now owns 7,842 shares of the basic materials company’s stock worth $68,000 after buying an additional 2,563 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Landec by 26.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,011 shares of the basic materials company’s stock worth $70,000 after buying an additional 1,668 shares in the last quarter. Institutional investors and hedge funds 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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Earnings History and Estimates for Landec (NASDAQ:LNDC)

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