Wall Street brokerages predict that Snyder's-Lance Inc (NASDAQ:LNCE) will post earnings per share (EPS) of $0.29 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Snyder's-Lance’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.33. Snyder's-Lance reported earnings per share of $0.28 in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The company is expected to issue its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Snyder's-Lance will report full year earnings of $1.11 per share for the current year, with EPS estimates ranging from $1.10 to $1.12. For the next financial year, analysts anticipate that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $1.27 to $1.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Snyder's-Lance.
Snyder's-Lance (NASDAQ:LNCE) last released its quarterly earnings data on Monday, May 8th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.01. The firm had revenue of $531.50 million for the quarter, compared to analyst estimates of $529.53 million. Snyder's-Lance had a return on equity of 5.70% and a net margin of 0.67%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share.
LNCE has been the subject of several recent research reports. BMO Capital Markets reiterated a “buy” rating on shares of Snyder's-Lance in a research note on Wednesday, February 8th. Deutsche Bank AG initiated coverage on shares of Snyder's-Lance in a research note on Wednesday, February 15th. They issued a “buy” rating and a $43.00 target price for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $44.00 target price on shares of Snyder's-Lance in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Snyder's-Lance from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, SunTrust Banks, Inc. downgraded shares of Snyder's-Lance from a “buy” rating to a “hold” rating and reduced their target price for the stock from $45.00 to $30.00 in a research note on Monday, April 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Snyder's-Lance presently has a consensus rating of “Buy” and a consensus price target of $35.21.
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Snyder's-Lance (NASDAQ:LNCE) traded down 2.04% on Monday, hitting $36.89. 690,639 shares of the stock traded hands. Snyder's-Lance has a 52 week low of $30.90 and a 52 week high of $40.85. The firm has a market capitalization of $3.56 billion, a PE ratio of 70.13 and a beta of 0.63. The stock has a 50 day moving average of $35.53 and a 200 day moving average of $37.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Thursday, May 18th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $0.64 annualized dividend and a yield of 1.73%. Snyder's-Lance’s dividend payout ratio is currently 711.11%.
In other news, Director Peter P. Brubaker acquired 1,000 shares of Snyder's-Lance stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $37.10 per share, with a total value of $37,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.60% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its position in shares of Snyder's-Lance by 3.4% in the first quarter. Public Employees Retirement System of Ohio now owns 4,058 shares of the company’s stock valued at $164,000 after buying an additional 132 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Snyder's-Lance by 6.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,155 shares of the company’s stock valued at $692,000 after buying an additional 1,070 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Snyder's-Lance by 625.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,999,017 shares of the company’s stock valued at $80,580,000 after buying an additional 1,723,553 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Snyder's-Lance during the first quarter valued at approximately $347,000. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Snyder's-Lance during the first quarter valued at approximately $201,000. 60.85% of the stock is owned by institutional investors.
Snyder's-Lance Company Profile
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
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