LANC - Lancaster Colony: Consolidation Looks Likely Over The Near Term
2024-06-10 21:45:02 ET
Summary
- Lancaster Colony Corporation is expected to report higher earnings per share for this fiscal year compared to previous projections.
- The stock has rallied over the past nine months but has not been able to surpass previous highs.
- The company's gross margin and net profit margin are trailing their historical averages.
Intro
We wrote about Lancaster Colony Corporation ( LANC ) in September of last year when we reiterated our 'Hold' rating on the stock due to stagnating technicals and falling forward-looking EPS revisions . Consensus revisions began to turn up not long after our commentary with Lancaster Colony, with the company now expected to report $6.28 in earnings per share ($6.10 projected in September 2023) for this fiscal year (Ending June 2024). This trend aided shares in rallying just over 12% over the past nine months....
Lancaster Colony: Consolidation Looks Likely Over The Near Term