$126.54 Million in Sales Expected for Landec Co. (LNDC) This Quarter

Wall Street brokerages expect that Landec Co. (NASDAQ:LNDC) will announce sales of $126.54 million for the current quarter, according to Zacks. Three analysts have provided estimates for Landec’s earnings. The highest sales estimate is $126.61 million and the lowest is $126.50 million. Landec reported sales of $136.46 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.3%. The company is scheduled to issue its next quarterly earnings results on Wednesday, January 2nd.

According to Zacks, analysts expect that Landec will report full-year sales of $552.82 million for the current fiscal year, with estimates ranging from $551.30 million to $555.56 million. For the next year, analysts expect that the company will report sales of $586.59 million, with estimates ranging from $578.68 million to $594.50 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Landec.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, October 2nd. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Landec had a return on equity of 3.95% and a net margin of 4.15%. The business had revenue of $124.70 million for the quarter, compared to the consensus estimate of $123.94 million. During the same quarter in the prior year, the company earned $0.08 EPS. The business’s revenue was up 7.7% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the company. BidaskClub cut Landec from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Maxim Group restated a “buy” rating and set a $18.00 price objective on shares of Landec in a research note on Wednesday, August 1st. Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Finally, Roth Capital assumed coverage on Landec in a research note on Tuesday, September 25th. They set a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Landec currently has an average rating of “Buy” and an average price target of $18.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its stake in shares of Landec by 18.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 143,725 shares of the basic materials company’s stock worth $2,142,000 after purchasing an additional 22,475 shares during the last quarter. BlackRock Inc. raised its stake in Landec by 5.0% in the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock valued at $29,061,000 after buying an additional 92,444 shares during the last quarter. Acuitas Investments LLC raised its stake in Landec by 226.8% in the second quarter. Acuitas Investments LLC now owns 104,196 shares of the basic materials company’s stock valued at $1,553,000 after buying an additional 72,315 shares during the last quarter. Northpointe Capital LLC raised its stake in Landec by 62.3% in the third quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock valued at $4,618,000 after buying an additional 123,111 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Landec by 20.7% in the second quarter. California Public Employees Retirement System now owns 93,557 shares of the basic materials company’s stock valued at $1,394,000 after buying an additional 16,037 shares during the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.

Shares of LNDC traded up $0.05 during midday trading on Friday, reaching $14.31. 76,401 shares of the stock were exchanged, compared to its average volume of 60,471. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $397.65 million, a price-to-earnings ratio of 34.90 and a beta of 0.65. Landec has a 52 week low of $11.60 and a 52 week high of $15.60.

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 two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.

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Earnings History and Estimates for Landec (NASDAQ:LNDC)

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