Equities analysts forecast that Lannett Company, Inc. (NYSE:LCI) will post $160.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lannett’s earnings, with estimates ranging from $155.66 million to $165.60 million. Lannett reported sales of $174.39 million in the same quarter last year, which indicates a negative year-over-year growth rate of 7.9%. The firm is expected to issue its next quarterly earnings report on Monday, May 6th.
According to Zacks, analysts expect that Lannett will report full year sales of $626.75 million for the current year. For the next fiscal year, analysts expect that the company will post sales of $505.50 million, with estimates ranging from $490.30 million to $520.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Lannett.
Lannett (NYSE:LCI) last released its earnings results on Wednesday, February 6th. The company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.18. Lannett had a negative net margin of 39.44% and a positive return on equity of 22.88%. The firm had revenue of $193.70 million during the quarter, compared to the consensus estimate of $162.51 million. During the same period in the prior year, the firm earned $1.06 EPS. The company’s revenue was up 5.1% compared to the same quarter last year.
Shares of Lannett stock traded up $0.05 on Friday, reaching $9.00. 1,316,728 shares of the company traded hands, compared to its average volume of 1,767,704. Lannett has a 52 week low of $3.33 and a 52 week high of $18.10. The company has a market capitalization of $344.78 million, a P/E ratio of 2.90 and a beta of 2.48. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 2.29.
In other Lannett news, Director Albert Paonessa III purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The shares were bought at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the purchase, the director now owns 2,086,054 shares of the company’s stock, valued at approximately $10,576,293.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick G. Lepore purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average price of $8.93 per share, for a total transaction of $223,250.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,000 shares of company stock worth $307,870 over the last 90 days. 12.57% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in LCI. State of Alaska Department of Revenue lifted its stake in shares of Lannett by 15.2% during the 4th quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock valued at $56,000 after buying an additional 1,515 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of Lannett during the 4th quarter valued at approximately $60,000. Financial Gravity Companies Inc. purchased a new stake in shares of Lannett during the 4th quarter valued at approximately $60,000. Oregon Public Employees Retirement Fund purchased a new stake in shares of Lannett during the 4th quarter valued at approximately $64,000. Finally, Brave Asset Management Inc. purchased a new stake in shares of Lannett during the 4th quarter valued at approximately $65,000. Institutional investors own 81.09% of the company’s stock.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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