Landec Co. (NASDAQ:LNDC) Expected to Announce Quarterly Sales of $141.67 Million

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Equities research analysts expect Landec Co. (NASDAQ:LNDC) to announce sales of $141.67 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Landec’s earnings, with estimates ranging from $140.50 million to $142.83 million. Landec posted sales of $124.91 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The company is expected to announce its next earnings report on Thursday, January 2nd.

According to Zacks, analysts expect that Landec will report full-year sales of $602.74 million for the current financial year, with estimates ranging from $597.90 million to $608.29 million. For the next financial year, analysts anticipate that the company will report sales of $626.76 million, with estimates ranging from $616.40 million to $632.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Landec.

Landec (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $138.70 million during the quarter, compared to analysts’ expectations of $131.14 million. During the same period last year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year.

Several research analysts have commented on LNDC shares. Barrington Research reissued an “in-line” rating and issued a $11.00 price objective (down from $13.00) on shares of Landec in a research report on Thursday, October 3rd. ValuEngine raised Landec from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. DA Davidson started coverage on Landec in a research report on Friday, August 23rd. They issued a “buy” rating on the stock. Zacks Investment Research lowered Landec from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 9th. Finally, Maxim Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Landec in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.00.

NASDAQ:LNDC traded up $0.13 during mid-day trading on Friday, hitting $9.40. The company had a trading volume of 233,560 shares, compared to its average volume of 184,431. The business has a fifty day simple moving average of $10.71 and a 200-day simple moving average of $10.40. The company has a current ratio of 0.89, a quick ratio of 0.51 and a debt-to-equity ratio of 0.43. Landec has a 1 year low of $9.00 and a 1 year high of $15.57. The firm has a market capitalization of $274.01 million, a price-to-earnings ratio of 29.38, a PEG ratio of 3.68 and a beta of 0.72.

In other Landec news, Director Nelson Obus bought 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $10.72 per share, with a total value of $214,400.00. Following the completion of the transaction, the director now owns 27,915 shares in the company, valued at $299,248.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 55,000 shares of company stock worth $568,270. Corporate insiders own 14.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Landec in the second quarter worth about $44,000. Susquehanna International Group LLP acquired a new position in Landec in the second quarter worth about $106,000. Citadel Advisors LLC acquired a new position in Landec in the second quarter worth about $111,000. GSA Capital Partners LLP acquired a new position in Landec in the second quarter worth about $123,000. Finally, Cutter & CO Brokerage Inc. acquired a new position in Landec in the second quarter worth about $306,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

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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