Landec (LNDC) Releases Q4 Earnings Guidance

Landec (NASDAQ:LNDC) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.12-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.22. The company issued revenue guidance of $150-153 million, compared to the consensus revenue estimate of $154.00 million.Landec also updated its FY 2019 guidance to $0.15-0.18 EPS.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Landec from a sell rating to a hold rating in a research note on Friday. Roth Capital reaffirmed a neutral rating and issued a $12.00 price objective (down previously from $16.50) on shares of Landec in a report on Monday, April 8th. BidaskClub lowered Landec from a hold rating to a sell rating in a report on Monday, April 1st. Finally, ValuEngine lowered Landec from a buy rating to a hold rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $14.50.

NASDAQ:LNDC opened at $10.23 on Friday. Landec has a 52-week low of $9.90 and a 52-week high of $15.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.59. The stock has a market cap of $304.38 million, a price-to-earnings ratio of 24.95 and a beta of 0.94.

Landec (NASDAQ:LNDC) last announced its quarterly earnings data on Wednesday, April 3rd. The basic materials company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Landec had a return on equity of 3.12% and a net margin of 1.24%. The business had revenue of $155.69 million for the quarter, compared to the consensus estimate of $156.47 million. During the same period in the previous year, the business earned $0.58 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Landec will post 0.15 EPS for the current year.

In other news, Director Nelson Obus bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were bought 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 owns 25,000 shares of the company’s stock, valued at $258,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 62,900 shares of company stock worth $713,848 over the last quarter. 15.04% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Landec stock. Geode Capital Management LLC boosted its stake in shares of Landec Co. (NASDAQ:LNDC) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 278,111 shares of the basic materials company’s stock after acquiring an additional 14,642 shares during the quarter. Geode Capital Management LLC owned about 0.95% of Landec worth $3,292,000 as of its most recent SEC filing. Institutional investors own 88.80% of the company’s stock.

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About Landec

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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