Landec Co. (NASDAQ:LNDC) Expected to Announce Quarterly Sales of $47.04 Million

Equities research analysts expect that Landec Co. (NASDAQ:LNDCGet Rating) will post sales of $47.04 million for the current quarter, Zacks reports. Two analysts have provided estimates for Landec’s earnings, with the highest sales estimate coming in at $47.30 million and the lowest estimate coming in at $46.78 million. Landec reported sales of $139.83 million during the same quarter last year, which would suggest a negative year over year growth rate of 66.4%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Landec will report full year sales of $358.13 million for the current year. For the next fiscal year, analysts expect that the company will report sales of $197.92 million, with estimates ranging from $194.10 million to $201.74 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Landec.

LNDC has been the subject of a number of recent research reports. Barrington Research cut shares of Landec from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. TheStreet raised shares of Landec from a “d+” rating to a “c-” rating in a research report on Friday, December 31st. Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a research report on Friday, April 8th. Finally, StockNews.com initiated coverage on shares of Landec in a research report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.67.

A number of large investors have recently added to or reduced their stakes in LNDC. Citigroup Inc. increased its stake in Landec by 126.2% during the 3rd quarter. Citigroup Inc. now owns 4,036 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 2,252 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Landec in the fourth quarter worth $39,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Landec in the third quarter worth $70,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Landec by 78.0% in the third quarter. BNP Paribas Arbitrage SA now owns 7,676 shares of the basic materials company’s stock worth $71,000 after buying an additional 3,363 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Landec in the fourth quarter worth $73,000. Institutional investors and hedge funds own 98.49% of the company’s stock.

NASDAQ:LNDC opened at $10.32 on Friday. The company has a 50-day moving average price of $11.20 and a 200-day moving average price of $10.48. Landec has a 12 month low of $7.65 and a 12 month high of $12.88. The company has a current ratio of 1.47, a quick ratio of 0.65 and a debt-to-equity ratio of 0.55. The stock has a market cap of $304.26 million, a price-to-earnings ratio of -4.80 and a beta of 1.16.

Landec Company Profile (Get Rating)

Landec Corporation, together with its subsidiaries, engages in the design, development, manufacture, and sale of 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 plant-based salads, and fresh-cut and whole processed vegetables 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 to retail grocery chains, club stores, and food service operators; and sells BreatheWay packaging products.

Read More

Get a free copy of the Zacks research report on Landec (LNDC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Landec (NASDAQ:LNDC)

Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.