Lancaster Colony (LANC) Set to Announce Quarterly Earnings on Thursday

Lancaster Colony (NASDAQ:LANC - Get Free Report) is set to announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.69 per share for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

Lancaster Colony (NASDAQ:LANC - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.06). The business had revenue of $452.83 million during the quarter, compared to the consensus estimate of $462.70 million. Lancaster Colony had a net margin of 8.47% and a return on equity of 19.61%. On average, analysts expect Lancaster Colony to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Lancaster Colony Stock Performance

Shares of Lancaster Colony stock traded up $0.40 on Thursday, hitting $176.48. The company had a trading volume of 127,463 shares, compared to its average volume of 128,632. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 36.61 and a beta of 0.35. Lancaster Colony has a 1 year low of $160.01 and a 1 year high of $215.31. The stock has a 50 day moving average of $178.76 and a 200-day moving average of $185.56.

Lancaster Colony Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were issued a $0.90 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Lancaster Colony's dividend payout ratio is currently 74.69%.

Insider Activity at Lancaster Colony

In other news, Director Elliot K. Fullen purchased 3,000 shares of Lancaster Colony stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $169.00 per share, for a total transaction of $507,000.00. Following the transaction, the director now directly owns 5,298 shares of the company's stock, valued at approximately $895,362. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 29.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LANC has been the subject of several research analyst reports. StockNews.com lowered shares of Lancaster Colony from a "buy" rating to a "hold" rating in a research note on Friday, August 23rd. Stephens decreased their price objective on Lancaster Colony from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Friday, August 23rd. Loop Capital dropped their price objective on shares of Lancaster Colony from $236.00 to $232.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Finally, Benchmark reissued a "hold" rating on shares of Lancaster Colony in a research report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $195.75.

Lancaster Colony Company Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.