$176.30 Million in Sales Expected for Lannett Company, Inc. (LCI) This Quarter

Wall Street brokerages expect Lannett Company, Inc. (NYSE:LCI) to report $176.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lannett’s earnings. The lowest sales estimate is $172.60 million and the highest is $182.14 million. Lannett reported sales of $165.72 million during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The business is expected to announce its next earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that Lannett will report full year sales of $176.30 million for the current fiscal year, with estimates ranging from $681.80 million to $692.30 million. For the next fiscal year, analysts forecast that the business will report sales of $686.96 million per share, with estimates ranging from $653.68 million to $742.74 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Lannett.

Lannett (NYSE:LCI) last released its earnings results on Wednesday, February 7th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.20. The firm had revenue of $184.31 million for the quarter, compared to the consensus estimate of $190.92 million. Lannett had a net margin of 7.44% and a return on equity of 18.85%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS.

LCI has been the topic of several recent analyst reports. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. Zacks Investment Research downgraded shares of Lannett from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Oppenheimer reissued a “hold” rating on shares of Lannett in a research report on Wednesday, February 7th. Goldman Sachs Group initiated coverage on shares of Lannett in a research note on Wednesday, January 24th. They set a “neutral” rating and a $21.00 target price on the stock. Finally, BMO Capital Markets upped their target price on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.83.

In other news, CEO Arthur P. Bedrosian sold 42,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total value of $1,071,000.00. Following the transaction, the chief executive officer now owns 636,616 shares in the company, valued at approximately $16,233,708. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David Farber sold 9,816 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $30.05, for a total transaction of $294,970.80. Following the completion of the transaction, the insider now owns 4,190,169 shares in the company, valued at approximately $125,914,578.45. The disclosure for this sale can be found here. Insiders have sold a total of 122,578 shares of company stock worth $3,243,757 in the last 90 days. Company insiders own 14.72% of the company’s stock.

Several large investors have recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in shares of Lannett in the 4th quarter worth approximately $786,000. MetLife Investment Advisors LLC bought a new position in shares of Lannett in the 4th quarter worth approximately $295,000. Kazazian Asset Management LLC bought a new position in shares of Lannett in the 4th quarter worth approximately $490,000. Macquarie Group Ltd. lifted its stake in shares of Lannett by 24.8% in the 4th quarter. Macquarie Group Ltd. now owns 60,300 shares of the company’s stock worth $1,399,000 after purchasing an additional 12,000 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Lannett by 190.2% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 65,300 shares of the company’s stock worth $1,514,000 after purchasing an additional 42,800 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Lannett (NYSE:LCI) traded down $0.65 during trading hours on Friday, hitting $17.05. 641,700 shares of the stock were exchanged, compared to its average volume of 748,082. Lannett has a 12-month low of $14.90 and a 12-month high of $30.35. The stock has a market cap of $645.23, a P/E ratio of 13.43, a PEG ratio of 1.09 and a beta of 2.51. The company has a quick ratio of 1.77, a current ratio of 2.32 and a debt-to-equity ratio of 1.38.

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Lannett Company Profile

Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.

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Earnings History and Estimates for Lannett (NYSE:LCI)

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