Lineage (NASDAQ:LINE) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Lineage (NASDAQ:LINE) issued its earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12, Zacks reports. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%.

Lineage Price Performance

Shares of LINE stock traded up $0.92 on Wednesday, reaching $56.78. The stock had a trading volume of 1,394,984 shares, compared to its average volume of 864,072. The firm’s 50-day moving average is $57.70 and its two-hundred day moving average is $68.72. Lineage has a 12 month low of $52.75 and a 12 month high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Tuesday, December 31st.

Analyst Ratings Changes

A number of equities analysts have commented on LINE shares. Mizuho cut their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Evercore ISI cut their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.88.

Lineage Company Profile

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.