Wall Street brokerages expect Lannett Company, Inc. (NYSE:LCI) to announce sales of $98.62 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Lannett’s earnings, with the lowest sales estimate coming in at $97.94 million and the highest estimate coming in at $99.30 million. Lannett posted sales of $126.48 million during the same quarter last year, which suggests a negative year-over-year growth rate of 22%. The company is expected to issue its next quarterly earnings report on Wednesday, November 3rd.
On average, analysts expect that Lannett will report full-year sales of $430.13 million for the current financial year, with estimates ranging from $420.36 million to $439.90 million. For the next financial year, analysts forecast that the firm will post sales of $463.18 million, with estimates ranging from $450.35 million to $476.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Lannett.
Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 24th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $106.00 million for the quarter, compared to the consensus estimate of $110.64 million. Lannett had a negative return on equity of 0.78% and a negative net margin of 75.92%. The company’s revenue was down 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share.
Several institutional investors have recently added to or reduced their stakes in LCI. Millennium Management LLC grew its position in shares of Lannett by 859.1% during the 2nd quarter. Millennium Management LLC now owns 959,094 shares of the company’s stock valued at $4,479,000 after acquiring an additional 859,094 shares during the period. BlackRock Inc. grew its position in shares of Lannett by 5.1% during the 1st quarter. BlackRock Inc. now owns 5,503,228 shares of the company’s stock valued at $29,059,000 after acquiring an additional 265,477 shares during the period. Ergoteles LLC bought a new position in shares of Lannett during the 2nd quarter valued at approximately $978,000. Oasis Management Co Ltd. bought a new position in shares of Lannett during the 2nd quarter valued at approximately $887,000. Finally, Deutsche Bank AG grew its position in shares of Lannett by 866.6% during the 2nd quarter. Deutsche Bank AG now owns 203,518 shares of the company’s stock valued at $950,000 after acquiring an additional 182,464 shares during the period. 67.21% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:LCI traded down $0.01 during midday trading on Monday, hitting $2.62. 4,969 shares of the company’s stock were exchanged, compared to its average volume of 774,738. The company has a debt-to-equity ratio of 4.92, a current ratio of 3.91 and a quick ratio of 2.70. The stock has a 50 day moving average price of $3.51 and a 200-day moving average price of $4.33. The company has a market cap of $110.76 million, a PE ratio of -0.29 and a beta of 1.05. Lannett has a 12 month low of $2.60 and a 12 month high of $10.70.
Lannett Company Profile
Lannett Co, Inc engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Trevose, PA.
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