Brokerages forecast that Lannett Co Inc (NYSE:LCI) will report sales of $171.93 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lannett’s earnings, with the highest sales estimate coming in at $172.15 million and the lowest estimate coming in at $171.70 million. Lannett reported sales of $139.12 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.6%. The business is scheduled to report its next earnings results on Wednesday, August 22nd.
According to Zacks, analysts expect that Lannett will report full year sales of $687.73 million for the current financial year, with estimates ranging from $685.10 million to $692.30 million. For the next year, analysts expect that the business will report sales of $678.42 million per share, with estimates ranging from $646.87 million to $729.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Lannett.
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Lannett (NYSE:LCI) last announced its earnings results on Monday, May 7th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $174.39 million for the quarter, compared to analysts’ expectations of $176.51 million. Lannett had a return on equity of 18.64% and a net margin of 7.01%. Lannett’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS.
A number of brokerages have commented on LCI. Zacks Investment Research cut Lannett from a “hold” rating to a “sell” rating in a report on Thursday. Oppenheimer reiterated a “hold” rating on shares of Lannett in a report on Wednesday. ValuEngine cut Lannett from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Roth Capital set a $25.00 target price on Lannett and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets lowered their target price on Lannett from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.40.
In other Lannett news, CEO Timothy C. Crew acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, May 10th. The shares were acquired at an average price of $14.73 per share, for a total transaction of $29,460.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.72% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Lannett by 2.8% during the first quarter. BlackRock Inc. now owns 4,005,500 shares of the company’s stock worth $64,288,000 after purchasing an additional 108,343 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Lannett by 12.1% during the first quarter. LSV Asset Management now owns 2,057,011 shares of the company’s stock worth $33,015,000 after purchasing an additional 221,476 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Lannett by 6.6% during the first quarter. Frontier Capital Management Co. LLC now owns 981,365 shares of the company’s stock worth $15,751,000 after purchasing an additional 60,385 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Lannett by 36.8% during the first quarter. Northern Trust Corp now owns 800,762 shares of the company’s stock worth $12,852,000 after purchasing an additional 215,228 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its holdings in shares of Lannett by 22.1% during the first quarter. Heartland Advisors Inc. now owns 610,500 shares of the company’s stock worth $9,799,000 after purchasing an additional 110,500 shares during the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.
Shares of NYSE:LCI opened at $15.65 on Friday. The firm has a market cap of $526.50 million, a price-to-earnings ratio of 5.47, a P/E/G ratio of 0.88 and a beta of 2.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.77 and a current ratio of 2.56. Lannett has a one year low of $14.68 and a one year high of $15.75.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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