On Wednesday, September 6th, Lakeland Industries (NASDAQ: LAKE) will be releasing its quarterly earnings results after the market closes. Analysts are predicting that the company will post earnings of $0.23 per share for the quarter. For those interested in participating in the company’s earnings conference call, there is a link available to do so.
In recent months, several hedge funds and institutional investors have been actively buying and selling shares of LAKE. High Falls Advisors Inc, for example, boosted its stake in Lakeland Industries by 47.9% during the second quarter. This resulted in them now owning 16,335 shares of the medical instruments supplier’s stock, valued at $235,000 after acquiring an additional 5,287 shares in the last quarter.
Captrust Financial Advisors also increased their holdings in Lakeland Industries significantly. During the second quarter, they acquired an additional 51,040 shares and now own a total of 57,535 shares valued at $828,000.
BlackRock Inc., one of the largest institutional investors globally, raised its position in shares of Lakeland Industries by 1.5% during the second quarter as well. They now own 140,690 shares with a value of $2,025,000 after purchasing an additional 2,054 shares.
Other notable investors include Ancora Advisors LLC and Private Capital Management LLC who both increased their positions during previous quarters.
Currently trading at a yield of 0.87%, Lakeland Industries recently paid out a quarterly dividend on August 22nd to shareholders on record as of August 15th. The dividend amount was $0.03 per share representing an annualized dividend payout ratio of approximately 42.86%.
Considering these recent developments and financial indicators such as earnings expectations and dividend payouts can provide valuable insights to potential investors or those monitoring the performance of Lakeland Industries’ stock on NASDAQ before the earnings release on September 6th.
Lakeland Industries, Inc.
Updated on: 04/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
4:00 PM (UTC)
Date:03 December, 2023
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Lakeland Industries Surprises with Quarterly Earnings, Falls Slightly Short on Revenue
Lakeland Industries (NASDAQ: LAKE), a prominent medical instruments supplier, recently released its quarterly earnings results for the period ending June 7th. The company reported a surprising EPS of $0.18, surpassing the consensus estimate of $0.12 by an impressive $0.06. However, despite this positive development, Lakeland Industries fell slightly short of analyst expectations in terms of revenue. The company generated $28.70 million in revenue during the quarter, whereas analysts had anticipated a figure closer to $29.10 million.
Lakeland Industries boasts a return on equity of 3.39% and a net margin of 1.81%, highlighting its ability to efficiently manage its finances within a competitive industry environment.
As expected, this news had an impact on the stock’s performance in the market. Shares of LAKE opened at $13.82 on Wednesday, showcasing stability amidst these announcements. The company currently holds a market capitalization of approximately $101.58 million, making it a notable player in the industry.
In terms of valuation ratios, Lakeland Industries maintains a price-to-earnings (P/E) ratio of 49.36 and exhibits a beta value of 0.57. These indicators provide insights into investors’ perspectives regarding the company’s growth prospects and level of risk associated with investing in its stock.
Investors may find it interesting to note that Lakeland Industries has experienced some fluctuation in its stock price over the past year. While reaching as high as $16.07 at one point, it also hit a low mark of $10.60 during this period.
Taking a closer look at institutional investors’ decisions regarding LAKE shares, several hedge funds and other institutional entities have recently engaged in both buying and selling activities related to the company’s stock holdings.
For instance, High Falls Advisors Inc increased its stake by an impressive 47.9% during the second quarter, now owning 16,335 shares with an approximate value of $235,000. Similarly, Captrust Financial Advisors expanded their holdings by a staggering 785.8%, accumulating 57,535 shares valued at around $828,000. BlackRock Inc. marginally increased its position by 1.5% during the same period, holding 140,690 shares worth $2,025,000.
Ancora Advisors LLC and Private Capital Management LLC both saw modest growth in their respective positions as well. Ancora Advisors increased its stake by 10.6% and now owns 108,088 shares with an estimated value of $1,578,000. Meanwhile, Private Capital Management boosted its position by 5.2%, bringing its total share count to approximately 1,178,797 and a valuation of $17,210,000.
In other news relating to Lakeland Industries’ stock performance and market sentiment surrounding the company’s future prospects, StockNews.com recently initiated coverage on LAKE and rated it as a “buy.”
As the company continues to gain attention from investors and analysts alike due to its recent earnings report and intriguing stock movements in the market over the past year; traders may find it worthwhile to conduct further research on Lakeland Industries to make informed investment decisions.
With August reaching its end and more developments set for the coming months within the industry especially with regards to forecasts for fiscal year earnings expectations; keeping an eye on Lakeland Industries can provide valuable insights for investors looking for opportunities in this sector.