Landec (NASDAQ:LNDC) Announces Earnings Results, Misses Expectations By $0.11 EPS


Share on StockTwits

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

NASDAQ:LNDC opened at $10.95 on Thursday. Landec has a 52 week low of $7.48 and a 52 week high of $12.24. The firm has a 50-day moving average price of $11.26 and a two-hundred day moving average price of $10.69. The firm has a market cap of $321.09 million, a price-to-earnings ratio of -6.29, a price-to-earnings-growth ratio of 33.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.48 and a current ratio of 0.89.

Separately, Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a research report on Tuesday, March 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Landec currently has a consensus rating of “Buy” and an average target price of $13.25.

In other Landec news, CEO Albert D. Bolles acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 19th. The shares were acquired at an average price of $10.98 per share, with a total value of $109,800.00. Following the completion of the purchase, the chief executive officer now directly owns 36,152 shares of the company’s stock, valued at approximately $396,948.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nelson Obus acquired 6,400 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $69,184.00. Following the purchase, the director now directly owns 36,115 shares of the company’s stock, valued at $390,403.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 20,400 shares of company stock valued at $224,844. 11.89% of the stock is owned by insiders.

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 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.

See Also: What is the S&P/ASX 200 Index?

Earnings History for Landec (NASDAQ:LNDC)

Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.