Wall Street brokerages expect Lannett Company, Inc. (NYSE:LCI) to report earnings of $0.27 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Lannett’s earnings, with the lowest EPS estimate coming in at $0.23 and the highest estimate coming in at $0.29. Lannett posted earnings of $0.86 per share in the same quarter last year, which indicates a negative year over year growth rate of 68.6%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 5th.
According to Zacks, analysts expect that Lannett will report full year earnings of $1.19 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.23. For the next financial year, analysts forecast that the firm will report earnings of $1.52 per share, with EPS estimates ranging from $1.41 to $1.66. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Lannett.
Lannett (NYSE:LCI) last released its earnings results on Wednesday, November 6th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Lannett had a return on equity of 25.40% and a net margin of 0.52%. The business had revenue of $127.30 million for the quarter, compared to the consensus estimate of $120.78 million. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year.
LCI has been the subject of several recent research reports. SunTrust Banks increased their price target on shares of Lannett from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, September 18th. ValuEngine upgraded Lannett from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Roth Capital reiterated a “neutral” rating on shares of Lannett in a research note on Wednesday, August 28th. Finally, Zacks Investment Research cut Lannett from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Lannett currently has a consensus rating of “Hold” and an average target price of $11.63.
In other news, Director Albert Paonessa III sold 11,582 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $10.30, for a total transaction of $119,294.60. Following the transaction, the director now directly owns 62,140 shares in the company, valued at $640,042. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.57% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY bought a new stake in shares of Lannett during the 3rd quarter worth approximately $126,000. Voloridge Investment Management LLC bought a new position in Lannett in the third quarter valued at about $560,000. Barclays PLC grew its holdings in shares of Lannett by 76.6% during the third quarter. Barclays PLC now owns 150,612 shares of the company’s stock worth $1,687,000 after purchasing an additional 65,343 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Lannett in the third quarter valued at approximately $343,000. Finally, Eqis Capital Management Inc. acquired a new stake in Lannett during the 3rd quarter worth approximately $299,000.
Shares of LCI stock opened at $8.74 on Friday. The stock has a 50 day moving average of $10.44 and a two-hundred day moving average of $8.49. The company has a market capitalization of $355.76 million, a P/E ratio of 3.72 and a beta of 2.16. Lannett has a 12 month low of $4.33 and a 12 month high of $15.52. The company has a current ratio of 2.43, a quick ratio of 1.60 and a debt-to-equity ratio of 2.07.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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