Wall Street brokerages expect Lannett Company, Inc. (NYSE:LCI) to announce sales of $121.43 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lannett’s earnings. The lowest sales estimate is $119.00 million and the highest is $122.70 million. Lannett reported sales of $170.91 million in the same quarter last year, which would suggest a negative year over year growth rate of 29%. The business is scheduled to announce its next earnings results on Tuesday, August 27th.
According to Zacks, analysts expect that Lannett will report full-year sales of $636.92 million for the current year, with estimates ranging from $622.30 million to $644.27 million. For the next year, analysts forecast that the business will report sales of $514.39 million, with estimates ranging from $495.70 million to $525.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Lannett.
Lannett (NYSE:LCI) last announced its earnings results on Monday, May 6th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.06. Lannett had a positive return on equity of 25.79% and a negative net margin of 39.84%. The company had revenue of $172.79 million for the quarter, compared to analysts’ expectations of $155.55 million. During the same period last year, the firm earned $0.80 EPS. Lannett’s revenue for the quarter was down .9% compared to the same quarter last year.
LCI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective for the company in a research report on Saturday, February 9th. SunTrust Banks initiated coverage on shares of Lannett in a research report on Tuesday, March 19th. They issued a “hold” rating and a $9.00 price objective for the company. Finally, ValuEngine raised shares of Lannett from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.45.
In related news, Director Jeffrey Farber bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $5.80 per share, for a total transaction of $29,000.00. Following the completion of the acquisition, the director now owns 2,101,054 shares in the company, valued at $12,186,113.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 18,000 shares of company stock valued at $118,050. Company insiders own 12.57% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors purchased a new position in shares of Lannett in the first quarter valued at $39,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Lannett in the 1st quarter worth about $44,000. Investors Research Corp acquired a new stake in shares of Lannett in the 1st quarter worth about $54,000. BNP Paribas Arbitrage SA increased its holdings in shares of Lannett by 105.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock worth $55,000 after acquiring an additional 3,615 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Lannett by 15.2% in the 4th quarter. State of Alaska Department of Revenue now owns 11,478 shares of the company’s stock worth $56,000 after acquiring an additional 1,515 shares during the period. Hedge funds and other institutional investors own 86.16% of the company’s stock.
Lannett stock traded up $0.14 during trading on Friday, reaching $5.75. The company had a trading volume of 1,364,041 shares, compared to its average volume of 1,530,867. Lannett has a 52 week low of $3.33 and a 52 week high of $17.15. The stock has a market cap of $218.25 million, a P/E ratio of 1.85 and a beta of 2.40. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.12 and a current ratio of 2.88.
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.
Featured Story: How does a security become overbought?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily email newsletter.