Wall Street brokerages expect that Lannett Company, Inc. (NYSE:LCI) will announce sales of $146.48 million for the current quarter, according to Zacks. Two analysts have provided estimates for Lannett’s earnings. The highest sales estimate is $147.80 million and the lowest is $145.15 million. Lannett reported sales of $154.96 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.5%. The company is scheduled to issue its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Lannett will report full-year sales of $596.19 million for the current fiscal year, with estimates ranging from $584.30 million to $604.20 million. For the next year, analysts expect that the company will report sales of $481.45 million, with estimates ranging from $441.59 million to $502.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Lannett.
Lannett (NYSE:LCI) last announced its earnings results on Tuesday, August 28th. The company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The firm had revenue of $170.90 million for the quarter, compared to analysts’ expectations of $171.21 million. Lannett had a return on equity of 19.92% and a net margin of 4.19%. Lannett’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS.
A number of equities research analysts have commented on LCI shares. Zacks Investment Research cut Lannett from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. BMO Capital Markets lowered their target price on Lannett from $19.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, August 20th. Craig Hallum cut Lannett from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Raymond James cut Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 target price on the stock. in a report on Monday, August 20th. Finally, TheStreet cut Lannett from a “c-” rating to a “d+” rating in a report on Friday, September 14th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $24.10.
In related news, Director Patrick G. Lepore bought 25,000 shares of the stock in a transaction on Friday, August 31st. The shares were purchased at an average price of $5.34 per share, for a total transaction of $133,500.00. Following the acquisition, the director now owns 67,895 shares in the company, valued at $362,559.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.72% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of LCI. Rhumbline Advisers lifted its stake in shares of Lannett by 5.3% during the 1st quarter. Rhumbline Advisers now owns 75,111 shares of the company’s stock worth $1,206,000 after purchasing an additional 3,782 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Lannett during the 1st quarter worth $139,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Lannett by 265.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 65,254 shares of the company’s stock worth $1,047,000 after purchasing an additional 47,387 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Lannett by 30.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 216,821 shares of the company’s stock worth $3,480,000 after purchasing an additional 50,738 shares during the period. Finally, KBC Group NV lifted its stake in shares of Lannett by 265.8% during the 1st quarter. KBC Group NV now owns 176,673 shares of the company’s stock worth $2,836,000 after purchasing an additional 128,375 shares during the period. 97.54% of the stock is currently owned by institutional investors.
NYSE:LCI traded up $0.16 during trading hours on Thursday, reaching $4.88. 1,194,300 shares of the company traded hands, compared to its average volume of 1,009,714. The stock has a market cap of $184.78 million, a PE ratio of 1.53 and a beta of 1.93. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.92 and a current ratio of 2.62. Lannett has a 1-year low of $4.60 and a 1-year high of $30.35.
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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