Snyder’s-Lance, Inc. (NASDAQ:LNCE) – Research analysts at Jefferies Group lifted their Q4 2017 earnings estimates for Snyder’s-Lance in a note issued to investors on Wednesday. Jefferies Group analyst A. Jagdale now expects that the company will post earnings per share of $0.42 for the quarter, up from their previous estimate of $0.39. Jefferies Group has a “Buy” rating and a $44.00 price target on the stock. Jefferies Group also issued estimates for Snyder’s-Lance’s Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.44 EPS, FY2018 earnings at $1.31 EPS and Q1 2019 earnings at $0.27 EPS.
Snyder’s-Lance (NASDAQ:LNCE) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Snyder’s-Lance had a positive return on equity of 5.30% and a negative net margin of 2.22%. The firm had revenue of $564.20 million during the quarter, compared to analysts’ expectations of $559.86 million. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.
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LNCE has been the topic of a number of other research reports. Zacks Investment Research raised shares of Snyder’s-Lance from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Wednesday, October 18th. TheStreet downgraded shares of Snyder’s-Lance from a “b” rating to a “c+” rating in a research report on Tuesday, November 7th. BidaskClub downgraded shares of Snyder’s-Lance from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. SunTrust Banks, Inc. reissued a “hold” rating and set a $35.00 target price on shares of Snyder’s-Lance in a research report on Friday. Finally, UBS AG reissued a “neutral” rating and set a $39.00 target price (up previously from $35.00) on shares of Snyder’s-Lance in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.17.
Snyder’s-Lance (NASDAQ:LNCE) opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.63 and a quick ratio of 0.92. Snyder’s-Lance has a 12-month low of $31.03 and a 12-month high of $40.85. The stock has a market cap of $3,457.70, a P/E ratio of 31.96 and a beta of 0.71.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Snyder’s-Lance by 1.7% during the 2nd quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock valued at $300,013,000 after acquiring an additional 145,840 shares during the period. Goldman Sachs Group Inc. lifted its stake in Snyder’s-Lance by 108.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock valued at $144,210,000 after acquiring an additional 2,166,488 shares during the period. State Street Corp lifted its stake in Snyder’s-Lance by 5.7% during the 2nd quarter. State Street Corp now owns 2,805,872 shares of the company’s stock valued at $97,137,000 after acquiring an additional 150,943 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Snyder’s-Lance by 0.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,429,375 shares of the company’s stock valued at $84,105,000 after purchasing an additional 16,200 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of Snyder’s-Lance by 2.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 2,312,214 shares of the company’s stock valued at $89,158,000 after purchasing an additional 62,904 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.
In other Snyder’s-Lance news, Director Isaiah Tidwell sold 1,500 shares of Snyder’s-Lance stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $37.35, for a total transaction of $56,025.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia A. Warehime acquired 18,839 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $37.24 per share, with a total value of $701,564.36. The disclosure for this purchase can be found here. Insiders own 13.70% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, November 17th. Snyder’s-Lance’s payout ratio is -123.08%.
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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