Revenue Update on Snyder's-Lance Inc(NASDAQ:LNCE)

Snyder's-Lance Inc(NASDAQ:LNCE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $609.50M. Analysts estimated a revenue of $616.28M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.26.

In a different note, On Jun 9, 2016, BMO Capital said it Upgrades its rating on Snyder's-Lance Inc. The shares have been rated ‘Outperform’ by the firm. KeyBanc said it Initiates Coverage on Snyder's-Lance Inc, according to a research note issued on May 26, 2016. The shares have been rated ‘Sector Weight’ by the firm.

Snyder's-Lance Inc (LNCE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.52% or 0.18 points. Due to strong positive momentum, the stock ended at $34.79, which is also near the day’s high of $34.82. The stock began the session at $34.62 and the volume stood at 4,45,367 shares. The 52-week high of the shares is $39.1 and the 52 week low is $27.93. The company has a current market capitalization of $3,342 M and it has 9,60,72,480 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Gail Sharps Myers (SVP, General Counsel & Sec) sold 200 shares at $32.08 per share price.Also, On Jun 1, 2016, Dan C Swander (director) sold 7,500 shares at $31.03 per share price.On May 19, 2016, Patricia A Warehime (director 10% owner) purchased 17,240 shares at $29.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Snyder’s-Lance Inc. is a national snack food company. The Company is engaged in the manufacturing distribution marketing and sale of snack food products. Its products include pretzels sandwich crackers kettle cooked chips pretzel crackers cookies potato chips tortilla chips nuts restaurant style crackers and other salty snacks. It purchases certain cake products and sells under its brands. The Company’s brands include core brands such as Snyder’s of Hanover Lance Cape Cod Snack Factory Pretzel Crisps and Late July and allied brands such as Tom’s Archway Jays Stella D’oro EatSmart Krunchers! and O-Ke-Doke. The Company’s Clearview Foods division combines Snack Factory Pretzel Crisps Late July Organic Snacks and EatSmart brands. The Company also sells Partner brand products which consist of other third-party branded products that the Company sells to its independent business owners (IBO) through its direct-store-delivery distribution network (DSD network).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *