Snyder's-Lance Inc (NASDAQ:LNCE) – Investment analysts at SunTrust Banks dropped their Q3 2017 earnings per share (EPS) estimates for Snyder's-Lance in a research note issued to investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.36. SunTrust Banks currently has a “Hold” rating and a $30.00 price objective on the stock. SunTrust Banks also issued estimates for Snyder's-Lance’s Q4 2017 earnings at $0.41 EPS and Q3 2018 earnings at $0.36 EPS.
Snyder's-Lance (NASDAQ:LNCE) last released its earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. Snyder's-Lance had a net margin of 0.67% and a return on equity of 5.70%. The company had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $529.53 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Snyder's-Lance’s revenue for the quarter was up 18.7% compared to the same quarter last year.
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Several other equities analysts have also weighed in on LNCE. Zacks Investment Research lowered shares of Snyder's-Lance from a “hold” rating to a “sell” rating in a research report on Thursday, January 12th. BMO Capital Markets reaffirmed a “buy” rating on shares of Snyder's-Lance in a research report on Wednesday, February 8th. Deutsche Bank AG initiated coverage on shares of Snyder's-Lance in a research report on Wednesday, February 15th. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $44.00 price objective on shares of Snyder's-Lance in a research report on Wednesday, April 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.21.
Shares of Snyder's-Lance (NASDAQ:LNCE) opened at 35.19 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 222.72 and a beta of 0.63. Snyder's-Lance has a 12-month low of $28.92 and a 12-month high of $40.85. The company has a 50-day moving average of $37.49 and a 200-day moving average of $37.91.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, May 16th. This represents a $0.64 annualized dividend and a yield of 1.82%. Snyder's-Lance’s dividend payout ratio (DPR) is presently 711.11%.
In related news, Director Patricia A. Warehime acquired 14,000 shares of the stock in a transaction dated Thursday, February 16th. The shares were acquired at an average price of $39.09 per share, for a total transaction of $547,260.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 18.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Advisor Group Inc. increased its stake in shares of Snyder's-Lance by 25.4% in the third quarter. Advisor Group Inc. now owns 4,143 shares of the company’s stock valued at $138,000 after buying an additional 838 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Snyder's-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock valued at $138,000 after buying an additional 608 shares during the last quarter. Tyers Asset Management LLC bought a new stake in shares of Snyder's-Lance during the fourth quarter valued at about $189,000. Neuburgh Advisers LLC increased its stake in shares of Snyder's-Lance by 21.6% in the first quarter. Neuburgh Advisers LLC now owns 4,708 shares of the company’s stock valued at $190,000 after buying an additional 836 shares during the last quarter. Finally, World Asset Management Inc bought a new stake in shares of Snyder's-Lance during the first quarter valued at about $209,000. Institutional investors and hedge funds own 60.85% of the company’s stock.
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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