Landec (NASDAQ:LNDC) Issues Earnings Results, Misses Estimates By $0.11 EPS


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Landec (NASDAQ:LNDC) announced its earnings results on Tuesday. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11), Fidelity Earnings reports. Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.

LNDC traded down $0.95 during trading on Thursday, reaching $10.00. The company had a trading volume of 3,040 shares, compared to its average volume of 119,978. The firm’s 50-day simple moving average is $11.26 and its 200 day simple moving average is $10.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.89. The company has a market cap of $293.23 million, a price-to-earnings ratio of -5.72, a PEG ratio of 33.84 and a beta of 1.04. Landec has a 12-month low of $7.48 and a 12-month high of $12.24.

In other news, CEO Albert D. Bolles acquired 10,000 shares of the stock in a transaction on Tuesday, January 19th. The shares were purchased at an average cost of $10.98 per share, for a total transaction of $109,800.00. Following the transaction, the chief executive officer now owns 36,152 shares in the company, valued at approximately $396,948.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nelson Obus bought 6,400 shares of the business’s stock in a transaction on Monday, January 11th. The shares were purchased at an average cost of $10.81 per share, for a total transaction of $69,184.00. Following the completion of the purchase, the director now owns 36,115 shares in the company, valued at $390,403.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 20,400 shares of company stock worth $224,844. Corporate insiders own 11.89% of the company’s stock.

A number of analysts have recently weighed in on the stock. Lake Street Capital reduced their price target on shares of Landec from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. Zacks Investment Research raised shares of Landec from a “sell” rating to a “hold” rating in a research note on Tuesday, March 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $13.50.

Landec Company Profile

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.

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Earnings History for Landec (NASDAQ:LNDC)

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