Analysts expect Lannett Company, Inc. (NYSE:LCI) to post sales of $98.62 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Lannett’s earnings, with estimates ranging from $97.94 million to $99.30 million. Lannett reported sales of $126.48 million in the same quarter last year, which would suggest a negative year over year growth rate of 22%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 3rd.
According to Zacks, analysts expect that Lannett will report full-year sales of $430.13 million for the current financial year, with estimates ranging from $420.36 million to $439.90 million. For the next financial year, analysts forecast that the firm will report sales of $463.18 million, with estimates ranging from $450.35 million to $476.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Lannett.
Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, August 24th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Lannett had a negative net margin of 75.92% and a negative return on equity of 0.78%. The company had revenue of $106.00 million for the quarter, compared to analysts’ expectations of $110.64 million. During the same quarter in the prior year, the firm earned $0.31 EPS. Lannett’s quarterly revenue was down 23.2% compared to the same quarter last year.
Shares of NYSE LCI opened at $2.91 on Tuesday. Lannett has a 1 year low of $2.88 and a 1 year high of $10.70. The company has a debt-to-equity ratio of 4.92, a current ratio of 3.91 and a quick ratio of 2.70. The company’s 50-day moving average is $4.14 and its 200 day moving average is $4.76. The stock has a market capitalization of $123.02 million, a P/E ratio of -0.32 and a beta of 1.05.
Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in shares of Lannett by 859.1% in the second quarter. Millennium Management LLC now owns 959,094 shares of the company’s stock worth $4,479,000 after buying an additional 859,094 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Lannett by 5.1% in the first quarter. BlackRock Inc. now owns 5,503,228 shares of the company’s stock worth $29,059,000 after buying an additional 265,477 shares in the last quarter. Ergoteles LLC bought a new position in shares of Lannett in the second quarter worth approximately $978,000. Oasis Management Co Ltd. bought a new position in shares of Lannett in the second quarter worth approximately $887,000. Finally, Deutsche Bank AG lifted its stake in shares of Lannett by 866.6% in the second quarter. Deutsche Bank AG now owns 203,518 shares of the company’s stock worth $950,000 after buying an additional 182,464 shares in the last quarter. 67.21% of the stock is currently owned by institutional investors and hedge funds.
Lannett Co, Inc engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Philadelphia, PA.
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