Landec (NASDAQ:LNDC) Updates Q4 Earnings Guidance

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Landec (NASDAQ:LNDC) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.01-0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.24. The company issued revenue guidance of approx $156.1 million, compared to the consensus revenue estimate of $150.69 million.Landec also updated its Q4 2020
After-Hours guidance to 0.01-0.06 EPS.

Several research analysts have issued reports on the company. ValuEngine cut Landec from a buy rating to a hold rating in a report on Tuesday, April 7th. Lake Street Capital upped their price target on Landec from $10.00 to $11.00 and gave the company a buy rating in a report on Tuesday. Roth Capital raised Landec from a neutral rating to a buy rating and upped their price target for the company from $11.00 to $15.00 in a report on Tuesday, April 21st. BidaskClub cut Landec from a hold rating to a sell rating in a report on Friday, June 5th. Finally, Maxim Group reiterated a buy rating and set a $15.00 price objective on shares of Landec in a research report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Landec has a consensus rating of Hold and an average price target of $12.60.

Landec stock opened at $9.80 on Wednesday. The company’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $10.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.52 and a current ratio of 0.94. Landec has a 12 month low of $7.53 and a 12 month high of $12.46.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, March 31st. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $152.93 million for the quarter, compared to analysts’ expectations of $147.15 million. Landec had a negative net margin of 3.97% and a negative return on equity of 1.84%. On average, analysts forecast that Landec will post 0.18 EPS for the current year.

In other Landec news, Director Nelson Obus acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $10.80 per share, for a total transaction of $54,000.00. Following the completion of the acquisition, the director now owns 27,915 shares of the company’s stock, valued at approximately $301,482. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 14.99% of the company’s stock.

About Landec

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.

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Earnings History and Estimates for Landec (NASDAQ:LNDC)

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