Wall Street analysts forecast that Lannett Co Inc (NYSE:LCI) will report sales of $171.95 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Lannett’s earnings, with estimates ranging from $171.70 million to $172.15 million. Lannett reported sales of $139.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.6%. The company is scheduled to report its next earnings report on Wednesday, August 22nd.
According to Zacks, analysts expect that Lannett will report full-year sales of $685.66 million for the current year, with estimates ranging from $685.10 million to $686.00 million. For the next year, analysts expect that the company will post sales of $673.78 million per share, with estimates ranging from $646.87 million to $729.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lannett.
Lannett (NYSE:LCI) last released its earnings results on Monday, May 7th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The company had revenue of $174.39 million during the quarter, compared to the consensus estimate of $176.51 million. Lannett had a return on equity of 18.64% and a net margin of 7.01%. Lannett’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Lannett from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a research note on Wednesday, May 9th. ValuEngine downgraded Lannett from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Roth Capital set a $25.00 price target on Lannett and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets cut their price target on Lannett from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.40.
In other Lannett news, CEO Timothy C. Crew purchased 2,000 shares of the stock in a transaction on Thursday, May 10th. The stock was bought at an average price of $14.73 per share, for a total transaction of $29,460.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patrick G. Lepore purchased 25,000 shares of the stock in a transaction on Friday, May 11th. The stock was acquired at an average price of $15.13 per share, with a total value of $378,250.00. The disclosure for this purchase can be found here. Company insiders own 14.72% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Lannett by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,005,500 shares of the company’s stock valued at $64,288,000 after buying an additional 108,343 shares during the period. LSV Asset Management grew its holdings in Lannett by 12.1% in the 1st quarter. LSV Asset Management now owns 2,057,011 shares of the company’s stock valued at $33,015,000 after buying an additional 221,476 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Lannett by 6.6% in the 1st quarter. Frontier Capital Management Co. LLC now owns 981,365 shares of the company’s stock valued at $15,751,000 after buying an additional 60,385 shares during the period. Northern Trust Corp grew its holdings in shares of Lannett by 36.8% during the 1st quarter. Northern Trust Corp now owns 800,762 shares of the company’s stock worth $12,852,000 after purchasing an additional 215,228 shares during the period. Finally, Heartland Advisors Inc. grew its holdings in shares of Lannett by 22.1% during the 1st quarter. Heartland Advisors Inc. now owns 610,500 shares of the company’s stock worth $9,799,000 after purchasing an additional 110,500 shares during the period. Institutional investors own 98.40% of the company’s stock.
Shares of Lannett traded down $0.05, hitting $16.15, during midday trading on Friday, Marketbeat Ratings reports. 547,978 shares of the stock were exchanged, compared to its average volume of 788,429. The company has a market capitalization of $615.83 million, a PE ratio of 5.65, a price-to-earnings-growth ratio of 1.04 and a beta of 2.49. The company has a quick ratio of 1.91, a current ratio of 2.56 and a debt-to-equity ratio of 1.29. Lannett has a twelve month low of $13.15 and a twelve month high of $30.35.
Lannett Company Profile
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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