Lancaster Colony Corporation (NASDAQ:LANC) Announces Earnings Results

Lancaster Colony Corporation (NASDAQ:LANC) issued its quarterly earnings results on Thursday, October 26th. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.04), Bloomberg Earnings reports. Lancaster Colony Corporation had a net margin of 9.20% and a return on equity of 21.50%. The business had revenue of $298.92 million during the quarter, compared to analyst estimates of $298.75 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis.

Shares of Lancaster Colony Corporation (LANC) traded down $0.60 on Friday, reaching $123.45. 92,200 shares of the company were exchanged, compared to its average volume of 107,715. Lancaster Colony Corporation has a twelve month low of $113.33 and a twelve month high of $149.30. The firm has a market cap of $3,370.00, a price-to-earnings ratio of 27.69 and a beta of 1.04.

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LANC has been the topic of several recent research reports. BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Lancaster Colony Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Wedbush restated a “buy” rating on shares of Lancaster Colony Corporation in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Lancaster Colony Corporation presently has a consensus rating of “Buy” and a consensus target price of $154.67.

About Lancaster Colony Corporation

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.

Earnings History for Lancaster Colony Corporation (NASDAQ:LANC)

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