Lineage (NASDAQ:LINE) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Lineage (NASDAQ:LINE) released its quarterly earnings results on Wednesday. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Stock Up 1.6 %

NASDAQ LINE traded up $0.92 during trading hours on Wednesday, hitting $56.78. The company had a trading volume of 1,394,984 shares, compared to its average volume of 864,072. 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 has a 52 week low of $52.75 and a 52 week high of $89.85. The firm has a 50 day simple moving average of $57.70 and a 200 day simple moving average of $68.72.

Lineage Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LINE shares. BNP Paribas began coverage on Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Mizuho cut their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their price target on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Scotiabank cut their price target on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.