Snyder's-Lance Inc (NASDAQ:LNCE) – Stock analysts at Jefferies Group issued their FY2022 earnings per share (EPS) estimates for Snyder's-Lance in a research note issued to investors on Tuesday. Jefferies Group analyst A. Jagdale anticipates that the company will post earnings of $2.43 per share for the year. Jefferies Group currently has a “Hold” rating and a $50.00 price target on the stock.
Other equities analysts have also issued reports about the company. UBS Group dropped their price target on Snyder's-Lance from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Zacks Investment Research lowered Snyder's-Lance from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. BidaskClub lowered Snyder's-Lance from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. BMO Capital Markets lowered Snyder's-Lance from an “outperform” rating to a “market perform” rating and set a $43.00 target price on the stock. in a research report on Monday, December 18th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $35.00 target price on shares of Snyder's-Lance in a research report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.83.
Snyder's-Lance (NASDAQ:LNCE) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Snyder's-Lance had a negative net margin of 2.22% and a positive return on equity of 5.30%. The business had revenue of $564.20 million during the quarter, compared to analyst estimates of $559.86 million. During the same period last year, the firm posted $0.35 earnings per share. Snyder's-Lance’s quarterly revenue was up 3.7% compared to the same quarter last year.
Several large investors have recently modified their holdings of LNCE. PNC Financial Services Group Inc. raised its position in shares of Snyder's-Lance by 17.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,060 shares of the company’s stock worth $107,000 after purchasing an additional 465 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Snyder's-Lance by 5.3% during the second quarter. Public Employees Retirement System of Ohio now owns 4,272 shares of the company’s stock worth $148,000 after purchasing an additional 214 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Snyder's-Lance by 235.7% during the third quarter. Envestnet Asset Management Inc. now owns 4,246 shares of the company’s stock worth $162,000 after purchasing an additional 2,981 shares during the period. Prospera Financial Services Inc acquired a new position in shares of Snyder's-Lance during the fourth quarter worth approximately $200,000. Finally, Shelton Capital Management acquired a new position in shares of Snyder's-Lance during the third quarter worth approximately $204,000. 64.64% of the stock is currently owned by institutional investors.
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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