Brokerages forecast that Lannett Co Inc (NYSE:LCI) will post sales of $162.91 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Lannett Co’s earnings, with the lowest sales estimate coming in at $160.80 million and the highest estimate coming in at $165.10 million. Lannett Co posted sales of $168.89 million in the same quarter last year, which suggests a negative year over year growth rate of 3.5%. The business is expected to report its next quarterly earnings report on Tuesday, August 22nd.
According to Zacks, analysts expect that Lannett Co will report full year sales of $162.91 million for the current financial year, with estimates ranging from $659.02 million to $663.30 million. For the next year, analysts expect that the business will post sales of $650.27 million per share, with estimates ranging from $636.13 million to $677.40 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Lannett Co.
Lannett Co (NYSE:LCI) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.10. Lannett Co had a positive return on equity of 22.13% and a negative net margin of 0.41%. The business had revenue of $165.72 million during the quarter, compared to analysts’ expectations of $170.28 million.
A number of analysts have issued reports on LCI shares. Zacks Investment Research lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. BMO Capital Markets started coverage on Lannett Co in a research report on Monday, May 1st. They issued a “market perform” rating and a $29.00 target price on the stock. ValuEngine lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lannett Co in a research report on Thursday, June 8th. Finally, Roth Capital set a $27.00 target price on Lannett Co and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.
COPYRIGHT VIOLATION NOTICE: This story was reported by WKRB News and is owned by of WKRB News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://www.wkrb13.com/markets/2286454/162-91-million-in-sales-expected-for-lannett-co-inc-nyselci-this-quarter.html.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Lannett Co by 52,610.9% in the first quarter. BlackRock Inc. now owns 3,903,766 shares of the company’s stock valued at $87,250,000 after buying an additional 3,896,360 shares during the period. Snow Capital Management LP increased its position in Lannett Co by 22.5% in the first quarter. Snow Capital Management LP now owns 3,093,435 shares of the company’s stock valued at $69,138,000 after buying an additional 567,800 shares during the period. Vanguard Group Inc. increased its position in Lannett Co by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,733,431 shares of the company’s stock valued at $61,093,000 after buying an additional 123,761 shares during the period. LSV Asset Management increased its position in Lannett Co by 13.6% in the first quarter. LSV Asset Management now owns 1,691,935 shares of the company’s stock valued at $37,814,000 after buying an additional 202,878 shares during the period. Finally, Morgan Stanley increased its position in Lannett Co by 592.6% in the first quarter. Morgan Stanley now owns 1,339,367 shares of the company’s stock valued at $29,935,000 after buying an additional 1,145,987 shares during the period. Institutional investors and hedge funds own 98.69% of the company’s stock.
Lannett Co (NYSE:LCI) traded up 0.25% on Friday, hitting $20.25. The stock had a trading volume of 195,231 shares. Lannett Co has a 52-week low of $16.75 and a 52-week high of $39.99. The company has a 50-day moving average price of $20.02 and a 200 day moving average price of $21.78. The firm’s market cap is $753.91 million.
About Lannett Co
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2286454/162-91-million-in-sales-expected-for-lannett-co-inc-nyselci-this-quarter.html
Receive News & Ratings for Lannett Co Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett Co Inc and related companies with MarketBeat.com's FREE daily email newsletter.