Lancaster Colony (LANC) Set to Announce Earnings on Thursday

Lancaster Colony (NASDAQ:LANC) will be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.42 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Lancaster Colony (NASDAQ:LANC) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.27. Lancaster Colony had a return on equity of 17.37% and a net margin of 6.92%. The company had revenue of $485.92 million during the quarter, compared to analysts’ expectations of $489.00 million. On average, analysts expect Lancaster Colony to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Lancaster Colony Stock Performance

NASDAQ:LANC opened at $188.80 on Thursday. Lancaster Colony has a 1 year low of $158.88 and a 1 year high of $220.65. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 40.34 and a beta of 0.35. The business has a fifty day moving average of $199.59 and a 200-day moving average of $181.55.

Lancaster Colony Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were issued a $0.90 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $3.60 annualized dividend and a dividend yield of 1.91%. Lancaster Colony’s dividend payout ratio (DPR) is 76.92%.

Insider Activity

In other news, insider Kristin Bird sold 1,207 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $192.66, for a total transaction of $232,540.62. Following the completion of the sale, the insider now directly owns 3,546 shares of the company’s stock, valued at $683,172.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 29.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens lowered Lancaster Colony from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $205.00 to $218.00 in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lancaster Colony currently has a consensus rating of “Hold” and an average price target of $198.75.

About Lancaster Colony

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.