Lancaster Colony (NASDAQ:LANC) Releases Earnings Results, Beats Expectations By $0.28 EPS

Lancaster Colony (NASDAQ:LANC) announced its quarterly earnings data on Tuesday. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.28, Zacks reports. The business had revenue of $509.30 million for the quarter, compared to the consensus estimate of $495.43 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.87 earnings per share.

Lancaster Colony Price Performance

Lancaster Colony stock opened at $181.28 on Wednesday. Lancaster Colony has a 12-month low of $163.20 and a 12-month high of $209.81. The stock has a market capitalization of $5.00 billion, a PE ratio of 31.51 and a beta of 0.35. The firm has a 50 day simple moving average of $177.54 and a 200-day simple moving average of $180.84.

Analyst Upgrades and Downgrades

LANC has been the topic of a number of research analyst reports. Stephens reiterated an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a report on Tuesday, November 19th. Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Tuesday, November 19th. Finally, Loop Capital decreased their price objective on shares of Lancaster Colony from $232.00 to $227.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

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.