Landec (NASDAQ:LNDC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Landec (NASDAQ:LNDC) released its earnings results on Tuesday. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01, Fidelity Earnings reports. Landec had a negative return on equity of 2.21% and a negative net margin of 7.56%.

Shares of LNDC stock opened at $11.27 on Thursday. The business’s 50-day moving average price is $10.73 and its 200-day moving average price is $9.92. Landec has a 12 month low of $7.48 and a 12 month high of $11.89. The firm has a market capitalization of $329.56 million, a price-to-earnings ratio of -7.41, a PEG ratio of 11.77 and a beta of 1.05. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.42.

In other news, Director Nelson Obus purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were purchased at an average cost of $10.30 per share, with a total value of $103,000.00. Following the completion of the purchase, the director now owns 33,915 shares of the company’s stock, valued at approximately $349,324.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.89% of the company’s stock.

A number of research firms have issued reports on LNDC. BidaskClub cut Landec from a “buy” rating to a “hold” rating in a research report on Wednesday, December 23rd. ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a research report on Wednesday, November 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $12.60.

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 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.

Featured Article: How to identify percentage decliners

Earnings History for Landec (NASDAQ:LNDC)

Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.