Lancaster Colony Corporation (NASDAQ:LANC) is reporting first quarter financial results on Wednesday 4th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, LANC is expected to report 1Q21 income of $ 1.60 per share from revenue of $ 342.07 million.
For the full year, analysts anticipate top line of $ 1375.23 million, while looking forward to income of $ 5.85 per share bottom line.
Previous Quarter Performance
Lancaster Colony Corporation came out with income for the fourth quarter of $ 1.10 per share, from the revenue of $ 320.85 million. The quarterly earnings up 0.92 percent while revenues reduced 0.87 percent compared with the same quarter last year.
According to street consensus, LANC was expected to report 4Q20 income of $ 0.96 per share from revenue of $ 298.63 million. The bottom line results beat street analysts by $ 0.14 or 14.58 percent, at the same time, top line results outshined analysts by $ 22.22 million or 7.44 percent.
Stock Performance
Shares of Lancaster Colony Corporation traded up $ 7.20 or 4.25 percent on Tuesday, reaching $ 176.81 with volume of 132.30 thousand shares. Lancaster Colony Corporation has traded high as $ 177.93 and has cracked $ 171.65 on the downward trend
According to the previous trading day, closing price of $ 176.81, representing a 48.07 % increase from the 52 week low of $ 114.55 and a 8.3 % decrease over the 52 week high of $ 184.97.
The company has a market capital of $ 4.87 billion and is part of the Consumer Defensive sector and Packaged Foods industry.
Recent Analyst recommendations
- On 15th September 2020, upgraded by DA Davidson to Buy from Neutral rating, with $ 221.00 target price.
Recent Stock Dividend Announcement
On August 19, 2020, the board of directors authorized quarterly dividend of $ 0.70 per share to holders of record as of the close of business on September 9, 2020, with payment date of September 30, 2020 and ex-dividend date on September 8, 2020.
Conference Call
Lancaster Colony Corporation will be hosting a conference call at 10:00 AM eastern time on 4th November 2020, to discuss its 1Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.lancastercolony.com
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates in two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schuberts; frozen mini stuffed bagels under the Bantam Bagels; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardinis, and Girards; and vegetable and fruit dips under the Marzetti brand names.
