Q2 2018 EPS Estimates for Landec Corporation Lowered by Wedbush (LNDC)
Landec Corporation (NASDAQ:LNDC) – Research analysts at Wedbush decreased their Q2 2018 earnings per share estimates for shares of Landec Corporation in a report issued on Thursday. Wedbush analyst C. Radke now forecasts that the basic materials company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.10. Wedbush currently has a “Hold” rating and a $13.00 target price on the stock. Wedbush also issued estimates for Landec Corporation’s Q4 2018 earnings at $0.15 EPS, Q1 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.15 EPS and FY2019 earnings at $0.67 EPS.
LNDC has been the topic of several other reports. Zacks Investment Research upgraded Landec Corporation from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research report on Wednesday, September 27th. Maxim Group reissued a “buy” rating and issued a $18.00 price objective on shares of Landec Corporation in a research note on Tuesday, September 26th. BidaskClub raised Landec Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, TheStreet cut Landec Corporation from a “b” rating to a “c+” rating in a report on Monday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Landec Corporation presently has an average rating of “Hold” and an average target price of $15.33.
Landec Corporation (LNDC) traded up 0.78% on Monday, reaching $13.00. 7,725 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $12.83 and a 200-day moving average of $13.42. The firm has a market capitalization of $357.58 million, a price-to-earnings ratio of 34.21 and a beta of 1.29. Landec Corporation has a 12 month low of $11.20 and a 12 month high of $15.50.
Landec Corporation (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $123.40 million for the quarter, compared to analysts’ expectations of $123.00 million. Landec Corporation had a net margin of 1.80% and a return on equity of 4.17%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS.
Several institutional investors have recently modified their holdings of LNDC. Dimensional Fund Advisors LP raised its position in Landec Corporation by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,297,667 shares of the basic materials company’s stock worth $34,120,000 after purchasing an additional 7,276 shares during the last quarter. Vanguard Group Inc. boosted its position in Landec Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,293,566 shares of the basic materials company’s stock valued at $19,209,000 after buying an additional 38,572 shares during the last quarter. Royce & Associates LP boosted its position in Landec Corporation by 17.0% in the 2nd quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock valued at $18,030,000 after buying an additional 176,629 shares during the last quarter. State Street Corp boosted its position in Landec Corporation by 8.2% in the 2nd quarter. State Street Corp now owns 490,593 shares of the basic materials company’s stock valued at $7,287,000 after buying an additional 37,247 shares during the last quarter. Finally, Foundry Partners LLC boosted its position in Landec Corporation by 0.8% in the 2nd quarter. Foundry Partners LLC now owns 412,990 shares of the basic materials company’s stock valued at $6,133,000 after buying an additional 3,275 shares during the last quarter. 92.07% of the stock is owned by institutional investors and hedge funds.
Landec Corporation Company Profile
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.
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