Landec (LNDC) Releases Q3 Earnings Guidance

Landec (NASDAQ:LNDC) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.14-0.16 for the period, compared to the Thomson Reuters consensus estimate of $0.23. The company issued revenue guidance of $140-145 million, compared to the consensus revenue estimate of $147.65 million.Landec also updated its FY18 guidance to $0.52-0.58 EPS.

A number of research firms have weighed in on LNDC. Wedbush reissued a hold rating and set a $13.00 target price on shares of Landec in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of Landec from a strong-buy rating to a hold rating in a research report on Wednesday, October 25th. Maxim Group reissued a buy rating and set a $18.00 target price on shares of Landec in a research report on Wednesday, November 29th. BidaskClub lowered shares of Landec from a sell rating to a strong sell rating in a research report on Tuesday, December 5th. Finally, Sidoti began coverage on shares of Landec in a research report on Wednesday, December 13th. They set a buy rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.33.

Landec (NASDAQ:LNDC) opened at $12.65 on Thursday. The firm has a market cap of $343.83, a price-to-earnings ratio of 36.14 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 0.19. Landec has a 52-week low of $11.20 and a 52-week high of $14.95.

Landec (NASDAQ:LNDC) last announced its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $136.50 million during the quarter, compared to analyst estimates of $135.82 million. Landec had a net margin of 1.80% and a return on equity of 4.17%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. equities analysts expect that Landec will post 0.51 earnings per share for the current year.

In other news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the transaction, the chief executive officer now owns 53,017 shares of the company’s stock, valued at $692,402.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.62% of the stock is currently owned by corporate insiders.

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About Landec

Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.

Earnings History and Estimates for Landec (NASDAQ:LNDC)

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