Wall Street analysts expect that Snyder’s-Lance, Inc. (NASDAQ:LNCE) will announce $566.94 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Snyder’s-Lance’s earnings. The highest sales estimate is $567.00 million and the lowest is $566.81 million. Snyder’s-Lance reported sales of $609.50 million in the same quarter last year, which indicates a negative year-over-year growth rate of 7%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Snyder’s-Lance will report full year sales of $566.94 million for the current financial year, with estimates ranging from $2.20 billion to $2.22 billion. For the next financial year, analysts expect that the company will report sales of $2.24 billion per share, with estimates ranging from $2.22 billion to $2.26 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Snyder’s-Lance.
Snyder’s-Lance (NASDAQ:LNCE) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $531.50 million during the quarter, compared to analysts’ expectations of $529.53 million. Snyder’s-Lance had a return on equity of 5.36% and a net margin of 2.25%. Snyder’s-Lance’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.
Several equities analysts recently issued reports on LNCE shares. BidaskClub lowered Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price objective on shares of Snyder’s-Lance in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $44.00 price objective on shares of Snyder’s-Lance in a research report on Wednesday, April 26th. Zacks Investment Research upgraded Snyder’s-Lance from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, SunTrust Banks, Inc. lowered Snyder’s-Lance from a “buy” rating to a “hold” rating and decreased their price objective for the company from $45.00 to $30.00 in a research report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.67.
COPYRIGHT VIOLATION WARNING: This article was posted by BBNS and is the property of of BBNS. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://baseballnewssource.com/markets/snyders-lance-inc-lnce-expected-to-post-quarterly-sales-of-566-94-million-updated-updated/1305372.html.
In other Snyder’s-Lance news, Director Peter P. Brubaker acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $37.10 per share, for a total transaction of $37,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.70% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Snyder’s-Lance by 16,621.1% in the first quarter. BlackRock Inc. now owns 8,520,053 shares of the company’s stock valued at $343,444,000 after buying an additional 8,469,099 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Snyder’s-Lance by 625.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,999,017 shares of the company’s stock valued at $80,580,000 after buying an additional 1,723,553 shares during the last quarter. Norges Bank purchased a new stake in Snyder’s-Lance during the fourth quarter valued at approximately $27,425,000. Victory Capital Management Inc. boosted its stake in Snyder’s-Lance by 27.9% in the first quarter. Victory Capital Management Inc. now owns 2,019,351 shares of the company’s stock valued at $81,400,000 after buying an additional 440,685 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Snyder’s-Lance by 110.2% in the second quarter. Fisher Asset Management LLC now owns 784,446 shares of the company’s stock valued at $27,158,000 after buying an additional 411,307 shares during the last quarter. Hedge funds and other institutional investors own 65.30% of the company’s stock.
Snyder’s-Lance (LNCE) traded down 0.28% during mid-day trading on Friday, hitting $35.52. 397,380 shares of the stock were exchanged. The firm has a 50-day moving average price of $35.47 and a 200-day moving average price of $37.36. Snyder’s-Lance has a 12-month low of $31.03 and a 12-month high of $40.85. The stock has a market capitalization of $3.43 billion, a P/E ratio of 67.53 and a beta of 0.71.
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Snyder's-Lance Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snyder's-Lance Inc. and related companies with our FREE daily email newsletter.