Oppenheimer Holdings Research Analysts Decrease Earnings Estimates for Lannett Co Inc (LCI)

Lannett Co Inc (NYSE:LCI) – Investment analysts at Oppenheimer Holdings cut their Q1 2018 earnings estimates for shares of Lannett Co in a research report issued on Monday. Oppenheimer Holdings analyst D. Archila now anticipates that the company will post earnings of $0.52 per share for the quarter, down from their prior forecast of $0.53. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Lannett Co’s Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.90 EPS, FY2019 earnings at $3.11 EPS and FY2020 earnings at $2.96 EPS.

Lannett Co (NYSE:LCI) last announced its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $139.10 million during the quarter, compared to the consensus estimate of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The company’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. WARNING: This story was published by Stock Observer and is owned by of Stock Observer. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.thestockobserver.com/2017/10/13/oppenheimer-holdings-research-analysts-decrease-earnings-estimates-for-lannett-co-inc-lci.html.

LCI has been the topic of several other reports. ValuEngine raised Lannett Co from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub cut Lannett Co from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG reduced their price target on Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. Zacks Investment Research cut Lannett Co from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $20.00 price target (down from $26.00) on shares of Lannett Co in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.80.

Shares of Lannett Co (NYSE LCI) traded up 7.18% during mid-day trading on Wednesday, hitting $22.40. 706,279 shares of the stock traded hands. The firm’s 50-day moving average is $18.29 and its 200-day moving average is $20.19. The stock’s market cap is $835.16 million. Lannett Co has a 52 week low of $14.90 and a 52 week high of $27.90.

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in Lannett Co by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock worth $117,000 after acquiring an additional 2,513 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Lannett Co by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after acquiring an additional 300 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in Lannett Co by 7.5% in the first quarter. Mason Street Advisors LLC now owns 6,870 shares of the company’s stock worth $154,000 after acquiring an additional 482 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Lannett Co by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock worth $188,000 after acquiring an additional 3,061 shares in the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in Lannett Co in the first quarter worth $209,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

About Lannett Co

Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.

Earnings History and Estimates for Lannett Co (NYSE:LCI)

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