Lancaster Colony Corporation (NASDAQ:LANC) - Stock analysts at Wedbush decreased their Q1 2018 earnings estimates for Lancaster Colony Corporation in a research report issued to clients and investors on Friday. Wedbush analyst C. Radke now anticipates that the company will post earnings per share of $1.09 for the quarter, down from their previous estimate of $1.25. Wedbush currently has a “Buy” rating on the stock. Wedbush also issued estimates for Lancaster Colony Corporation’s Q2 2018 earnings at $1.33 EPS, Q3 2018 earnings at $1.02 EPS, Q4 2018 earnings at $1.12 EPS, FY2018 earnings at $4.55 EPS, Q1 2019 earnings at $1.17 EPS, Q2 2019 earnings at $1.43 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.20 EPS and FY2019 earnings at $4.91 EPS.
Lancaster Colony Corporation (NASDAQ:LANC) last released its quarterly earnings data on Thursday, August 17th. The company reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by $0.08. The company had revenue of $289.90 million for the quarter, compared to analyst estimates of $295.05 million. Lancaster Colony Corporation had a net margin of 9.59% and a return on equity of 22.76%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Lancaster Colony Corporation from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Vertical Group upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $123.00 to $146.00 in a research report on Tuesday, May 30th. Vertical Research upgraded shares of Lancaster Colony Corporation from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, BidaskClub upgraded shares of Lancaster Colony Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $152.00.
Shares of Lancaster Colony Corporation (NASDAQ LANC) opened at 116.47 on Monday. The firm has a market capitalization of $3.19 billion, a P/E ratio of 27.73 and a beta of 1.02. Lancaster Colony Corporation has a 12-month low of $113.33 and a 12-month high of $149.30. The firm’s 50-day moving average price is $123.14 and its 200-day moving average price is $126.74.
Several hedge funds have recently bought and sold shares of LANC. Cypress Wealth Advisors LLC raised its stake in Lancaster Colony Corporation by 3.4% in the first quarter. Cypress Wealth Advisors LLC now owns 1,622 shares of the company’s stock valued at $209,000 after buying an additional 54 shares in the last quarter. Credit Agricole S A raised its stake in Lancaster Colony Corporation by 4.5% in the first quarter. Credit Agricole S A now owns 1,522 shares of the company’s stock valued at $196,000 after buying an additional 66 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Lancaster Colony Corporation by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 17,323 shares of the company’s stock valued at $2,124,000 after buying an additional 69 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Lancaster Colony Corporation by 0.7% in the second quarter. Great West Life Assurance Co. Can now owns 11,416 shares of the company’s stock valued at $1,399,000 after buying an additional 76 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in Lancaster Colony Corporation by 4.6% in the second quarter. Capstone Asset Management Co. now owns 1,832 shares of the company’s stock valued at $225,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 49.20% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.20 annualized dividend and a dividend yield of 1.89%. Lancaster Colony Corporation’s dividend payout ratio is 52.26%.
Lancaster Colony Corporation Company Profile
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company’s food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Premium dry egg noodles, Frozen specialty noodles, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar.
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