Analysts predict that Lannett Company, Inc. (NYSE:LCI – Get Rating) will post sales of $83.65 million for the current quarter, Zacks reports. Two analysts have made estimates for Lannett’s earnings. The highest sales estimate is $85.00 million and the lowest is $82.30 million. Lannett posted sales of $112.37 million during the same quarter last year, which suggests a negative year-over-year growth rate of 25.6%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Lannett will report full year sales of $348.68 million for the current year, with estimates ranging from $346.80 million to $350.55 million. For the next year, analysts forecast that the firm will report sales of $348.05 million, with estimates ranging from $345.50 million to $350.59 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Lannett.
Lannett (NYSE:LCI – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.07). Lannett had a negative return on equity of 31.06% and a negative net margin of 70.98%. The business had revenue of $86.51 million for the quarter, compared to analyst estimates of $100.60 million. During the same period last year, the firm posted $0.08 EPS.
In other news, Director Patrick G. Lepore acquired 50,000 shares of Lannett stock in a transaction that occurred on Tuesday, February 8th. The shares were acquired at an average price of $0.88 per share, for a total transaction of $44,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 99,500 shares of company stock worth $84,420 in the last 90 days. 14.67% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LCI. Metropolitan Life Insurance Co NY bought a new stake in shares of Lannett in the 1st quarter valued at about $77,000. Morgan Stanley grew its position in shares of Lannett by 1.5% in the 2nd quarter. Morgan Stanley now owns 712,887 shares of the company’s stock valued at $3,329,000 after buying an additional 10,705 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Lannett during the 3rd quarter valued at about $754,000. Janney Montgomery Scott LLC boosted its position in shares of Lannett by 55.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,000 shares of the company’s stock valued at $84,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Staley Capital Advisers Inc. boosted its position in shares of Lannett by 26.6% during the 3rd quarter. Staley Capital Advisers Inc. now owns 365,145 shares of the company’s stock valued at $1,095,000 after purchasing an additional 76,819 shares in the last quarter. Hedge funds and other institutional investors own 61.63% of the company’s stock.
Shares of Lannett stock traded up $0.04 during trading on Friday, reaching $0.87. 3,700 shares of the company’s stock were exchanged, compared to its average volume of 438,002. Lannett has a 1-year low of $0.71 and a 1-year high of $5.82. The stock has a market cap of $37.34 million, a P/E ratio of -0.12 and a beta of 1.14. The company has a 50-day simple moving average of $0.84.
Lannett Company Profile (Get Rating)
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, nasal, patch, foam, buccal, sublingual, suspensions, soft gel, injectable, and oral dosages.
- Get a free copy of the StockNews.com research report on Lannett (LCI)
- OrganiGram’s Turnaround Begins To Blossom
- Three Dividend Stocks With Growth Potential
- Exelon Stock Still Has Extraordinary Upside
- Ross Stores On The Verge Of Major Rally
- Greenbrier Companies Stock has Green in its Future
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily email newsletter.