Lamb Weston Holdings Inc. (LW) Announces Quarterly Earnings Results
Lamb Weston Holdings Inc. (NYSE:LW) released its quarterly earnings results on Wednesday. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07, Bloomberg Earnings reports. The firm had revenue of $817.50 million during the quarter, compared to analysts’ expectations of $795.61 million. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.
Shares of Lamb Weston Holdings (LW) opened at 48.41 on Thursday. The stock’s 50 day moving average is $45.88 and its 200-day moving average is $44.34. The stock has a market capitalization of $7.07 billion and a price-to-earnings ratio of 21.81. Lamb Weston Holdings has a one year low of $29.62 and a one year high of $49.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, November 2nd.
LW has been the topic of several analyst reports. Bank of America Corporation lifted their price target 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 lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and lifted their price target for the stock from $42.00 to $44.00 in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price target (up from $45.00) on shares of Lamb Weston Holdings in a report on Wednesday, July 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price target on shares of Lamb Weston Holdings in a report on Monday, September 25th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lamb Weston Holdings currently has a consensus rating of “Buy” and a consensus price target of $46.78.
Lamb Weston Holdings Company Profile
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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