Lamb Weston Holdings Inc. (LW) Expected to Post Quarterly Sales of $797.70 Million
Equities analysts forecast that Lamb Weston Holdings Inc. (NYSE:LW) will announce sales of $797.70 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Lamb Weston Holdings’ earnings. The lowest sales estimate is $794.40 million and the highest is $801.00 million. The business is expected to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Lamb Weston Holdings will report full year sales of $797.70 million for the current fiscal year, with estimates ranging from $3.27 billion to $3.30 billion. For the next year, analysts forecast that the business will post sales of $3.37 billion per share, with estimates ranging from $3.37 billion to $3.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Lamb Weston Holdings.
Lamb Weston Holdings (NYSE:LW) last posted its quarterly earnings results on Tuesday, July 25th. The specialty retailer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $833 million during the quarter, compared to analysts’ expectations of $810.85 million. During the same period in the previous year, the company posted $0.29 earnings per share. Lamb Weston Holdings’s revenue for the quarter was up 7.2% compared to the same quarter last year.
LW has been the topic of several analyst reports. Berenberg Bank initiated coverage on shares of Lamb Weston Holdings in a report on Tuesday, May 16th. They issued a “buy” rating and a $49.00 target price on the stock. Zacks Investment Research downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a report on Tuesday, June 6th. Bank of America Corporation boosted their price objective on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Stifel Nicolaus downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and upped their price target for the company from $42.00 to $44.00 in a report on Tuesday, July 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up previously from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Lamb Weston Holdings currently has an average rating of “Buy” and an average target price of $46.22.
Shares of Lamb Weston Holdings (NYSE:LW) opened at 45.28 on Friday. The stock has a market capitalization of $6.61 billion and a price-to-earnings ratio of 20.40. Lamb Weston Holdings has a 12-month low of $28.75 and a 12-month high of $49.94. The firm has a 50-day moving average of $44.74 and a 200 day moving average of $43.56.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.66%. The ex-dividend date was Wednesday, August 2nd.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Lamb Weston Holdings by 2.4% during the second quarter. Vanguard Group Inc. now owns 12,089,698 shares of the specialty retailer’s stock worth $532,430,000 after purchasing an additional 279,578 shares during the last quarter. BlackRock Inc. increased its position in Lamb Weston Holdings by 2.2% during the second quarter. BlackRock Inc. now owns 11,872,986 shares of the specialty retailer’s stock worth $522,887,000 after purchasing an additional 260,164 shares during the last quarter. State Street Corp increased its position in Lamb Weston Holdings by 2.7% during the second quarter. State Street Corp now owns 3,922,298 shares of the specialty retailer’s stock worth $172,731,000 after purchasing an additional 103,358 shares during the last quarter. FMR LLC increased its position in Lamb Weston Holdings by 126.3% during the first quarter. FMR LLC now owns 3,331,242 shares of the specialty retailer’s stock worth $140,112,000 after purchasing an additional 1,859,263 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Lamb Weston Holdings by 33,787.6% during the second quarter. Janus Henderson Group PLC now owns 2,676,101 shares of the specialty retailer’s stock worth $117,856,000 after purchasing an additional 2,668,204 shares during the last quarter. 79.78% of the stock is owned by hedge funds and other institutional investors.
About Lamb Weston Holdings
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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