Lineage (NASDAQ:LINE) Releases Earnings Results, Misses Expectations By $0.46 EPS

Lineage (NASDAQ:LINE) issued its earnings results on Monday. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.46), FiscalAI reports. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion.

Lineage Stock Up 1.4%

Shares of NASDAQ:LINE traded up $0.53 during midday trading on Monday, hitting $39.66. 1,603,160 shares of the stock were exchanged, compared to its average volume of 1,102,786. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. Lineage has a 52-week low of $31.33 and a 52-week high of $45.75. The business’s fifty day simple moving average is $36.28 and its two-hundred day simple moving average is $38.73. The company has a market capitalization of $9.03 billion, a PE ratio of -55.08 and a beta of 0.79.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were paid a $0.5325 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.4%. Lineage’s dividend payout ratio is -295.83%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group set a $44.00 price objective on Lineage and gave the stock a “buy” rating in a research note on Monday, October 26th. Mizuho raised Lineage from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, July 28th. UBS Group dropped their target price on Lineage from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. Royal Bank Of Canada upped their target price on Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Finally, Scotiabank reduced their price target on shares of Lineage from $44.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $41.93.

Insider Transactions at Lineage

In other news, Chairman Kevin Marchetti bought 25,000 shares of the stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This trade represents a 21.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 71.60% of the company’s stock.

Lineage Company Profile

Lineage, Inc is a global temperature-controlled warehousing and logistics company. It operates refrigerated and frozen storage facilities that help food producers, retailers, and other customers manage products that require controlled temperatures.

Its services include cold storage, food processing and handling, blast freezing, transportation, and other supply-chain solutions. By connecting warehouses with transportation and distribution networks, Lineage supports the movement of perishable goods from producers to consumers.

Lineage grew through acquisitions and expansion into international markets, serving customers across North America, Europe, and the Asia-Pacific region.