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

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

NASDAQ LNDC opened at $10.95 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $11.26 and its two-hundred day moving average is $10.69. Landec has a 12-month low of $7.48 and a 12-month high of $12.24. The stock has a market capitalization of $321.09 million, a price-to-earnings ratio of -6.29, a PEG ratio of 33.84 and a beta of 1.04.

In other news, CEO Albert D. Bolles purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, January 19th. The shares were acquired at an average price of $10.98 per share, for a total transaction of $109,800.00. Following the acquisition, the chief executive officer now directly owns 36,152 shares in the company, valued at approximately $396,948.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nelson Obus purchased 6,400 shares of the stock in a transaction that occurred on Monday, January 11th. The stock was purchased at an average price of $10.81 per share, for a total transaction of $69,184.00. Following the acquisition, the director now owns 36,115 shares in the company, valued at $390,403.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,400 shares of company stock worth $224,844 in the last quarter. 11.89% of the stock is currently owned by insiders.

LNDC has been the subject of several analyst reports. Lake Street Capital reduced their price objective on Landec from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a research note 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. Landec presently has a consensus rating of “Buy” and an average price target of $13.50.

Landec Company Profile

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.

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Earnings History for Landec (NASDAQ:LNDC)

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