Analysts Offer Predictions for Landec Co.’s FY2021 Earnings (NASDAQ:LNDC)


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Landec Co. (NASDAQ:LNDC) – Investment analysts at Barrington Research cut their FY2021 earnings per share estimates for shares of Landec in a report issued on Thursday, April 8th. Barrington Research analyst M. Petusky now forecasts that the basic materials company will post earnings of ($0.19) per share for the year, down from their prior estimate of ($0.10). Barrington Research also issued estimates for Landec’s Q1 2022 earnings at ($0.12) EPS, Q2 2022 earnings at ($0.02) EPS, Q3 2022 earnings at $0.03 EPS, FY2022 earnings at ($0.08) EPS and FY2023 earnings at $0.09 EPS.

Several other analysts also recently issued reports on LNDC. Lake Street Capital decreased their price target on Landec from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 8th. TheStreet cut Landec from a “c” rating to a “d+” rating in a research report on Friday, April 9th. Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a report on Tuesday, March 16th. Finally, Roth Capital cut their price target on Landec from $15.00 to $12.00 and set a “buy” rating for the company in a report on Friday, April 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $12.75.

NASDAQ:LNDC opened at $10.40 on Monday. The business has a 50 day simple moving average of $11.09 and a 200 day simple moving average of $10.71. The firm has a market capitalization of $304.96 million, a P/E ratio of -5.98, a P/E/G ratio of 33.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.48. Landec has a 12-month low of $7.48 and a 12-month high of $12.24.

Landec (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, April 6th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.

In related news, CEO Albert D. Bolles bought 10,000 shares of the company’s stock in a transaction dated Tuesday, January 19th. The stock was acquired at an average cost of $10.98 per share, with a total value of $109,800.00. Following the acquisition, the chief executive officer now owns 36,152 shares in the company, valued at approximately $396,948.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders bought 16,000 shares of company stock valued at $176,020. 11.89% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Landec by 7.8% during the 4th quarter. BlackRock Inc. now owns 2,091,030 shares of the basic materials company’s stock worth $22,688,000 after acquiring an additional 151,075 shares during the last quarter. Cove Street Capital LLC boosted its position in Landec by 69.6% in the 4th quarter. Cove Street Capital LLC now owns 1,119,405 shares of the basic materials company’s stock valued at $12,145,000 after buying an additional 459,223 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in Landec by 134.8% in the 4th quarter. Kennedy Capital Management Inc. now owns 1,071,367 shares of the basic materials company’s stock valued at $11,624,000 after buying an additional 615,069 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Landec by 255.1% in the 4th quarter. Nuveen Asset Management LLC now owns 462,574 shares of the basic materials company’s stock valued at $5,019,000 after buying an additional 332,295 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its position in Landec by 10.6% in the 4th quarter. John G Ullman & Associates Inc. now owns 366,867 shares of the basic materials company’s stock valued at $3,981,000 after buying an additional 35,082 shares during the last quarter. Institutional investors and hedge funds own 88.87% of the company’s stock.

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: Dividend Reinvestment Plan (DRIP)

Earnings History and Estimates for Landec (NASDAQ:LNDC)

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