Landec (NASDAQ:LNDC) Updates Q2 Earnings Guidance

Landec (NASDAQ:LNDC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of (0.06)-($0.04) for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.02. The company issued revenue guidance of $142-$146 million, compared to the consensus revenue estimate of $136.51 million.Landec also updated its FY 2020 guidance to $0.28-0.32 EPS.

NASDAQ:LNDC traded down $0.11 during mid-day trading on Tuesday, hitting $10.76. The company’s stock had a trading volume of 100,356 shares, compared to its average volume of 131,969. Landec has a fifty-two week low of $9.02 and a fifty-two week high of $15.57. The company has a current ratio of 0.97, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $315.11 million, a price-to-earnings ratio of 33.63, a P/E/G ratio of 3.97 and a beta of 0.74. The stock has a fifty day moving average of $11.09 and a 200-day moving average of $10.61.

Landec (NASDAQ:LNDC) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter. Landec had a net margin of 0.07% and a return on equity of 1.90%. The firm had revenue of $152.78 million during the quarter. On average, equities analysts anticipate that Landec will post 0.27 earnings per share for the current fiscal year.

Several research analysts recently issued reports on LNDC shares. Maxim Group reissued a buy rating and issued a $17.00 price target on shares of Landec in a research report on Wednesday, July 31st. Barrington Research started coverage on shares of Landec in a research report on Tuesday, September 3rd. They issued an outperform rating and a $13.00 price target for the company. DA Davidson started coverage on shares of Landec in a research report on Friday, August 23rd. They issued a buy rating for the company. BidaskClub lowered shares of Landec from a buy rating to a hold rating in a research report on Thursday, September 19th. Finally, ValuEngine raised shares of Landec from a hold rating to a buy rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $13.50.

In other news, Director Nelson Obus acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $10.72 per share, with a total value of $214,400.00. Following the completion of the acquisition, the director now owns 27,915 shares in the company, valued at approximately $299,248.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 14.99% 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 two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.

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