Wall Street analysts expect Lannett Company, Inc. (NYSE:LCI) to report sales of $161.46 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lannett’s earnings. The highest sales estimate is $162.31 million and the lowest is $160.60 million. Lannett reported sales of $184.31 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12.4%. The firm is expected to report its next earnings results on Wednesday, February 6th.
On average, analysts expect that Lannett will report full year sales of $603.21 million for the current fiscal year, with estimates ranging from $600.12 million to $606.30 million. For the next year, analysts anticipate that the firm will report sales of $495.34 million, with estimates ranging from $490.30 million to $500.38 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Lannett.
Lannett (NYSE:LCI) last issued its earnings results on Wednesday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $155.10 million during the quarter, compared to the consensus estimate of $145.79 million. Lannett had a positive return on equity of 21.32% and a negative net margin of 39.74%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS.
Shares of LCI stock opened at $7.78 on Wednesday. Lannett has a 12-month low of $3.33 and a 12-month high of $25.02. The company has a market cap of $305.12 million, a PE ratio of 2.51 and a beta of 1.94. The company has a quick ratio of 2.07, a current ratio of 2.87 and a debt-to-equity ratio of 2.44.
In other news, Director Albert Paonessa III acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was purchased at an average cost of $5.07 per share, with a total value of $50,700.00. Following the purchase, the director now directly owns 2,086,054 shares of the company’s stock, valued at approximately $10,576,293.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.57% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Lannett by 9.5% in the 2nd quarter. BlackRock Inc. now owns 4,386,677 shares of the company’s stock valued at $59,660,000 after purchasing an additional 381,177 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Lannett by 582.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 684,622 shares of the company’s stock valued at $3,251,000 after buying an additional 584,343 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Lannett by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 662,422 shares of the company’s stock valued at $3,146,000 after buying an additional 29,089 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Lannett during the 3rd quarter valued at $2,555,000. Finally, SG Americas Securities LLC acquired a new stake in Lannett during the 3rd quarter valued at $998,000. 81.75% of the stock is owned by hedge funds and other institutional investors.
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, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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