Equities analysts predict that Lannett Co Inc (NYSE:LCI) will announce $153.21 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Lannett Co’s earnings. The highest sales estimate is $154.46 million and the lowest is $151.10 million. Lannett Co reported sales of $161.56 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.2%. The company is expected to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Lannett Co will report full-year sales of $153.21 million for the current financial year, with estimates ranging from $655.10 million to $693.00 million. For the next financial year, analysts anticipate that the company will report sales of $673.54 million per share, with estimates ranging from $627.53 million to $694.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Lannett Co.
Lannett Co (NYSE:LCI) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The company’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share.
A number of equities analysts have weighed in on the company. ValuEngine raised Lannett Co from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Lannett Co from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price target (down previously from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Lannett Co in a research report on Wednesday, August 23rd. Finally, Roth Capital set a $27.00 price target on Lannett Co and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.80.
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Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Lannett Co by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after purchasing an additional 100 shares in the last quarter. CS Mckee LP raised its stake in shares of Lannett Co by 0.6% during the 2nd quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after purchasing an additional 200 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Lannett Co by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after purchasing an additional 203 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Lannett Co by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after purchasing an additional 244 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Lannett Co by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after purchasing an additional 297 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.
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.
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