Snyder’s-Lance, Inc. (NASDAQ:LNCE) – Research analysts at SunTrust Banks boosted their Q3 2017 earnings per share estimates for Snyder’s-Lance in a research note issued to investors on Tuesday. SunTrust Banks analyst W. Chappell now expects that the company will post earnings per share of $0.33 for the quarter, up from their previous estimate of $0.30. SunTrust Banks has a “Hold” rating and a $30.00 price objective on the stock. SunTrust Banks also issued estimates for Snyder’s-Lance’s Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.19 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.35 EPS, FY2018 earnings at $1.26 EPS and FY2019 earnings at $1.58 EPS.
Snyder’s-Lance (NASDAQ:LNCE) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $579.60 million during the quarter, compared to analyst estimates of $565.66 million. Snyder’s-Lance had a return on equity of 5.34% and a net margin of 1.60%. Snyder’s-Lance’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share.
Other equities research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Snyder’s-Lance from a “c+” rating to a “b” rating in a research note on Tuesday. Jefferies Group LLC set a $44.00 target price on shares of Snyder’s-Lance and gave the company a “buy” rating in a research note on Saturday, July 29th. BidaskClub cut shares of Snyder’s-Lance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 target price on shares of Snyder’s-Lance in a research note on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Snyder’s-Lance from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Snyder’s-Lance presently has an average rating of “Hold” and an average target price of $39.00.
Shares of Snyder’s-Lance (LNCE) opened at 37.44 on Thursday. Snyder’s-Lance has a one year low of $31.03 and a one year high of $40.85. The company has a 50-day moving average price of $35.25 and a 200 day moving average price of $37.21. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 71.18 and a beta of 0.71.
A number of hedge funds and other institutional investors have recently bought and sold shares of LNCE. Prudential Financial Inc. raised its position in Snyder’s-Lance by 6.8% in the first quarter. Prudential Financial Inc. now owns 56,762 shares of the company’s stock valued at $2,288,000 after buying an additional 3,600 shares during the period. Jane Street Group LLC acquired a new position in Snyder’s-Lance during the first quarter valued at about $347,000. Schwab Charles Investment Management Inc. raised its position in Snyder’s-Lance by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 466,553 shares of the company’s stock valued at $18,807,000 after buying an additional 35,171 shares during the period. Meadow Creek Investment Management LLC raised its position in Snyder’s-Lance by 21.6% in the first quarter. Meadow Creek Investment Management LLC now owns 3,424 shares of the company’s stock valued at $138,000 after buying an additional 608 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Snyder’s-Lance by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 21,600 shares of the company’s stock valued at $871,000 after buying an additional 400 shares during the period. 63.88% of the stock is owned by hedge funds and other institutional investors.
In other Snyder’s-Lance news, Director Peter P. Brubaker purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average price of $37.10 per share, with a total value of $37,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 22nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, August 18th. Snyder’s-Lance’s dividend payout ratio (DPR) is presently 177.78%.
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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