Landec Corp. (NASDAQ:LNDC) – Equities research analysts at Griffin Securities dropped their Q2 2017 earnings per share estimates for Landec Corp. in a research report issued on Thursday. Griffin Securities analyst M. Ajzenman now anticipates that the brokerage will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.11. Griffin Securities also issued estimates for Landec Corp.’s Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.57 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $0.86 EPS.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The company earned $132.40 million during the quarter. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.74%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS.
A number of other research analysts have also issued reports on LNDC. Zacks Investment Research lowered shares of Landec Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Wedbush began coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Maxim Group began coverage on shares of Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.32.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 13.34 on Monday. Landec Corp. has a 12-month low of $9.48 and a 12-month high of $13.56. The firm’s market cap is $363.39 million. The firm has a 50-day moving average of $12.73 and a 200-day moving average of $11.52.
Several hedge funds have recently made changes to their positions in LNDC. First Interstate Bank increased its stake in shares of Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock valued at $135,000 after buying an additional 2,210 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Landec Corp. during the second quarter valued at about $161,000. Highbridge Capital Management LLC acquired a new stake in shares of Landec Corp. during the second quarter valued at about $197,000. Prudential Financial Inc. increased its stake in shares of Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares during the period. Finally, Teachers Advisors Inc. increased its stake in shares of Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares during the period. 94.83% of the stock is currently owned by institutional investors.
In other Landec Corp. news, COO Ronald Lane Midyett sold 7,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $12.02, for a total value of $84,140.00. Following the sale, the chief operating officer now owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary T. Steele sold 34,484 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The disclosure for this sale can be found here. Corporate insiders own 4.89% of the company’s stock.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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