Zacks: Brokerages Anticipate Lannett Co Inc (LCI) Will Post Quarterly Sales of $171.95 Million

Analysts expect that Lannett Co Inc (NYSE:LCI) will report $171.95 million in sales for the current quarter, according to Zacks Investment Research. Three 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 in the same quarter last year, which indicates a positive year over year growth rate of 23.6%. The company is scheduled to announce its next earnings report on Wednesday, August 22nd.

On average, analysts expect that Lannett will report full-year sales of $685.66 million for the current financial year, with estimates ranging from $685.10 million to $686.00 million. For the next year, analysts expect that the firm will post sales of $673.78 million per share, with estimates ranging from $646.87 million to $729.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Lannett.

Lannett (NYSE:LCI) last issued its earnings results on Monday, May 7th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. Lannett had a return on equity of 18.64% and a net margin of 7.01%. The firm had revenue of $174.39 million for the quarter, compared to analysts’ expectations of $176.51 million. During the same quarter last year, the business earned $0.77 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year.

Several equities analysts have recently weighed in on LCI shares. Roth Capital set a $25.00 price objective on Lannett and gave the company a “buy” rating in a report on Wednesday, February 7th. Oppenheimer reiterated a “hold” rating on shares of Lannett in a report on Thursday, March 22nd. Zacks Investment Research cut Lannett from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 13th. ValuEngine cut Lannett from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BMO Capital Markets cut their price objective 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Lannett has an average rating of “Hold” and an average target price of $21.40.

In other news, CEO Timothy C. Crew bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The shares were acquired at an average price of $14.73 per share, with a total value of $29,460.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick G. Lepore bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was purchased at an average cost of $15.13 per share, for a total transaction of $378,250.00. The disclosure for this purchase can be found here. Insiders own 14.72% of the company’s stock.

A number of institutional investors have recently made changes to their positions in LCI. Wells Fargo & Company MN raised its position in Lannett by 8.1% in the 3rd quarter. Wells Fargo & Company MN now owns 41,567 shares of the company’s stock valued at $767,000 after buying an additional 3,113 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Lannett by 23.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 189,344 shares of the company’s stock valued at $3,494,000 after buying an additional 35,712 shares during the last quarter. California Public Employees Retirement System raised its position in Lannett by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 81,146 shares of the company’s stock valued at $1,497,000 after buying an additional 3,046 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Lannett in the 4th quarter valued at approximately $1,046,000. Finally, Fox Run Management L.L.C. acquired a new stake in Lannett in the 4th quarter valued at approximately $770,000. 98.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lannett traded down $0.05, hitting $16.15, during trading on Friday, MarketBeat.com reports. 547,978 shares of the company’s stock traded hands, compared to its average volume of 788,429. Lannett has a 52 week low of $13.15 and a 52 week high of $30.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.56 and a quick ratio of 1.91. The stock has a market capitalization of $615.83 million, a PE ratio of 5.65, a price-to-earnings-growth ratio of 1.04 and a beta of 2.49.

Lannett Company Profile

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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Earnings History and Estimates for Lannett (NYSE:LCI)

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