Landec (LNDC) Issues Q4 2019 Earnings Guidance

Landec (NASDAQ:LNDC) issued an update on its fourth quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.12-0.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.22. The company issued revenue guidance of $150-153 million, compared to the consensus revenue estimate of $154 million.Landec also updated its FY 2019 guidance to $0.15-0.18 EPS.

Shares of Landec stock opened at $10.23 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $304.38 million, a price-to-earnings ratio of 24.95 and a beta of 0.94. Landec has a 12 month low of $9.90 and a 12 month high of $15.60.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $155.69 million during the quarter, compared to analyst estimates of $156.47 million. Landec had a return on equity of 3.12% and a net margin of 1.24%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts anticipate that Landec will post 0.15 EPS for the current fiscal year.

LNDC has been the subject of several analyst reports. BidaskClub lowered Landec from a hold rating to a sell rating in a research report on Thursday, December 27th. Maxim Group reiterated a buy rating and issued a $17.00 price objective (down from $20.00) on shares of Landec in a research report on Thursday, January 3rd. ValuEngine lowered Landec from a buy rating to a hold rating in a research report on Saturday, January 5th. Zacks Investment Research lowered Landec from a hold rating to a sell rating in a research report on Thursday, February 7th. Finally, Roth Capital restated a neutral rating and set a $12.00 price target (down from $16.50) on shares of Landec in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Landec presently has a consensus rating of Hold and an average target price of $14.50.

In other news, Director Nelson Obus purchased 30,000 shares of the stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average cost of $10.33 per share, for a total transaction of $309,900.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $258,250. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have bought 62,900 shares of company stock valued at $713,848. Company insiders own 15.04% of the company’s stock.

An institutional investor recently raised its position in Landec stock. Geode Capital Management LLC increased its stake in Landec Co. (NASDAQ:LNDC) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,111 shares of the basic materials company’s stock after acquiring an additional 14,642 shares during the period. Geode Capital Management LLC owned approximately 0.95% of Landec worth $3,292,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 88.80% of the company’s stock.

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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 two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.

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