Lineage (NASDAQ:LINE) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

by · The Cerbat Gem

Lineage (NASDAQ:LINE – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07, Zacks reports. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Lineage’s revenue for the quarter was up 3.1% on a year-over-year basis.

Lineage Price Performance

Shares of LINE stock traded down $0.01 during trading hours on Wednesday, hitting $37.72. The stock had a trading volume of 1,056,808 shares, compared to its average volume of 1,058,688. Lineage has a one year low of $36.66 and a one year high of $74.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The stock’s 50-day moving average price is $40.34 and its two-hundred day moving average price is $43.12. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of -13.56 and a beta of -0.20.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 30th. Lineage’s payout ratio is presently -75.63%.

Insider Activity

In related news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of Lineage stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $40.44 per share, with a total value of $499,231.80. Following the completion of the purchase, the chairman directly owned 74,668 shares of the company’s stock, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider directly owned 7,983 shares of the company’s stock, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 39,448 shares of company stock worth $1,645,752 over the last ninety days. Insiders own 71.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 362 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Lineage by 69.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,427 shares of the company’s stock valued at $149,000 after buying an additional 1,401 shares during the period. California State Teachers Retirement System boosted its position in shares of Lineage by 16.3% during the second quarter. California State Teachers Retirement System now owns 4,455 shares of the company’s stock valued at $194,000 after buying an additional 626 shares during the period. Royal Bank of Canada boosted its position in shares of Lineage by 15.2% during the first quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock valued at $290,000 after buying an additional 653 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Lineage by 67.5% during the second quarter. Captrust Financial Advisors now owns 6,830 shares of the company’s stock valued at $297,000 after buying an additional 2,752 shares during the period.

Analyst Upgrades and Downgrades

LINE has been the topic of several recent research reports. Piper Sandler dropped their target price on Lineage from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company lowered their target price on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Robert W. Baird reduced their price target on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. UBS Group reduced their price target on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Mizuho set a $44.00 target price on shares of Lineage in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Lineage has an average rating of “Hold” and a consensus target price of $48.33.

View Our Latest Stock Report on Lineage

Lineage Company Profile

(Get Free Report)

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.

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