Wall Street brokerages predict that Lannett Company, Inc. (NYSE:LCI) will post $0.21 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lannett’s earnings, with the lowest EPS estimate coming in at $0.19 and the highest estimate coming in at $0.22. Lannett posted earnings of $0.64 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 67.2%. The business is scheduled to issue its next earnings report on Tuesday, August 27th.
According to Zacks, analysts expect that Lannett will report full-year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $2.17 to $2.20. For the next year, analysts forecast that the firm will post earnings of $0.99 per share, with EPS estimates ranging from $0.70 to $1.23. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Lannett.
Lannett (NYSE:LCI) last issued its earnings results on Monday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.06. The company had revenue of $172.79 million for the quarter, compared to the consensus estimate of $155.55 million. Lannett had a positive return on equity of 25.79% and a negative net margin of 39.84%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS.
In other news, Director Jeffrey Farber acquired 10,000 shares of Lannett stock in a transaction on Thursday, May 9th. The shares were acquired at an average price of $6.85 per share, with a total value of $68,500.00. Following the purchase, the director now directly owns 2,096,054 shares in the company, valued at approximately $14,357,969.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 18,000 shares of company stock worth $118,050. Corporate insiders own 12.57% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Telemus Capital LLC increased its position in shares of Lannett by 0.3% during the 1st quarter. Telemus Capital LLC now owns 7,902,326 shares of the company’s stock valued at $62,191,000 after purchasing an additional 20,445 shares during the last quarter. BlackRock Inc. boosted its holdings in Lannett by 0.7% during the 1st quarter. BlackRock Inc. now owns 4,801,346 shares of the company’s stock valued at $37,787,000 after acquiring an additional 35,410 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lannett by 274.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,528,926 shares of the company’s stock valued at $19,903,000 after acquiring an additional 1,853,436 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Lannett by 105.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,102,998 shares of the company’s stock valued at $5,470,000 after acquiring an additional 565,198 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Lannett by 4.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 662,422 shares of the company’s stock valued at $3,146,000 after acquiring an additional 29,089 shares during the period. 82.07% of the stock is currently owned by hedge funds and other institutional investors.
LCI traded down $0.20 on Friday, hitting $5.60. 514,592 shares of the company’s stock traded hands, compared to its average volume of 1,445,735. The company has a market capitalization of $220.21 million, a PE ratio of 1.81 and a beta of 2.51. Lannett has a one year low of $3.33 and a one year high of $16.85. The company has a current ratio of 2.88, a quick ratio of 2.12 and a debt-to-equity ratio of 2.10.
Lannett Company Profile
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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