Snyder’s-Lance, Inc. (NASDAQ:LNCE) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.10-1.20 for the period, compared to the Thomson Reuters consensus estimate of $1.10. The company issued revenue guidance of $2.20-2.25 billion, compared to the consensus revenue estimate of $2.21 billion.
Several brokerages have recently issued reports on LNCE. UBS AG reaffirmed a neutral rating and issued a $39.00 price objective (up previously from $35.00) on shares of Snyder’s-Lance in a research note on Thursday, August 10th. TheStreet raised shares of Snyder’s-Lance from a c+ rating to a b rating in a research note on Tuesday, August 8th. BMO Capital Markets reaffirmed an outperform rating and issued a $43.00 price objective (up previously from $38.00) on shares of Snyder’s-Lance in a research note on Wednesday, August 9th. BidaskClub cut shares of Snyder’s-Lance from a buy rating to a hold rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC set a $44.00 price objective on shares of Snyder’s-Lance and gave the stock a buy rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $39.80.
Shares of Snyder’s-Lance, Inc. (NASDAQ:LNCE) traded up 0.43% on Friday, hitting $37.08. 470,350 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $35.60 and its 200 day moving average price is $37.17. Snyder’s-Lance, Inc. has a 1-year low of $31.03 and a 1-year high of $40.85. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 100.76 and a beta of 0.71.
Snyder’s-Lance (NASDAQ:LNCE) last posted its earnings results on Tuesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. The business had revenue of $579.60 million during the quarter, compared to analysts’ expectations of $565.66 million. During the same period in the prior year, the business earned $0.28 EPS. Snyder’s-Lance’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Snyder’s-Lance, Inc. will post $1.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, August 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.73%. Snyder’s-Lance’s payout ratio is 177.78%.
In other Snyder’s-Lance news, Director Patricia A. Warehime bought 18,839 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $37.24 per share, with a total value of $701,564.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter P. Brubaker bought 1,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were acquired at an average cost of $37.10 per share, with a total value of $37,100.00. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by corporate insiders.
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.
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