Lakeland Industries (NASDAQ:LAKE) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Lakeland Industries (NASDAQ:LAKE) issued its quarterly earnings data on Wednesday. The medical instruments supplier reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.08), reports. The firm had revenue of $31.20 million for the quarter, compared to the consensus estimate of $32.50 million. Lakeland Industries had a net margin of 5.38% and a return on equity of 5.43%.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE opened at $16.80 on Friday. Lakeland Industries has a fifty-two week low of $10.60 and a fifty-two week high of $19.66. The company has a 50 day simple moving average of $17.10 and a two-hundred day simple moving average of $16.38. The company has a market capitalization of $123.65 million, a price-to-earnings ratio of 19.54 and a beta of 0.47.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Wednesday, February 14th. Lakeland Industries’s payout ratio is currently 13.95%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

Hedge Funds Weigh In On Lakeland Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC increased its stake in shares of Lakeland Industries by 1.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 43,530 shares of the medical instruments supplier’s stock valued at $807,000 after purchasing an additional 768 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Lakeland Industries by 1.2% during the first quarter. Royal Bank of Canada now owns 68,473 shares of the medical instruments supplier’s stock valued at $1,314,000 after purchasing an additional 799 shares in the last quarter. UBS Group AG increased its stake in shares of Lakeland Industries by 64.2% during the first quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 918 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lakeland Industries by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 38,910 shares of the medical instruments supplier’s stock valued at $747,000 after purchasing an additional 969 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Lakeland Industries by 4.4% during the first quarter. State Street Corp now owns 29,161 shares of the medical instruments supplier’s stock valued at $560,000 after purchasing an additional 1,220 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.