Wall Street brokerages expect that Lamb Weston Holdings Inc (NYSE:LW) will announce $956.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Lamb Weston’s earnings, with estimates ranging from $935.00 million to $977.78 million. Lamb Weston reported sales of $926.80 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The business is scheduled to issue its next earnings results before the market opens on Wednesday, April 1st.
According to Zacks, analysts expect that Lamb Weston will report full year sales of $4.06 billion for the current fiscal year, with estimates ranging from $4.02 billion to $4.12 billion. For the next financial year, analysts forecast that the firm will post sales of $4.17 billion, with estimates ranging from $4.13 billion to $4.21 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Lamb Weston.
Lamb Weston (NYSE:LW) last posted its earnings results on Friday, January 3rd. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $964.88 million. Lamb Weston had a return on equity of 869.30% and a net margin of 12.90%. Lamb Weston’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share.
Several research firms recently issued reports on LW. Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research note on Friday, March 13th. ValuEngine cut Lamb Weston from a “buy” rating to a “hold” rating in a research note on Friday, November 29th. Stifel Nicolaus cut Lamb Weston from a “buy” rating to a “hold” rating and lifted their price objective for the company from $81.00 to $92.00 in a research report on Sunday, January 5th. Bank of America cut Lamb Weston from a “buy” rating to a “neutral” rating in a research report on Thursday, March 19th. Finally, Jefferies Financial Group started coverage on Lamb Weston in a research report on Wednesday, January 22nd. They set a “hold” rating and a $96.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.43.
In related news, Director William G. Jurgensen purchased 18,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average cost of $92.01 per share, with a total value of $1,656,180.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Mcnutt sold 8,696 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $91.20, for a total value of $793,075.20. Following the completion of the sale, the chief financial officer now directly owns 59,111 shares in the company, valued at $5,390,923.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,668 shares of company stock worth $2,164,789. Insiders own 0.82% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. First Republic Investment Management Inc. boosted its position in shares of Lamb Weston by 0.3% in the 4th quarter. First Republic Investment Management Inc. now owns 45,231 shares of the specialty retailer’s stock worth $3,891,000 after purchasing an additional 117 shares in the last quarter. Dean Capital Management raised its holdings in Lamb Weston by 1.3% in the 4th quarter. Dean Capital Management now owns 9,773 shares of the specialty retailer’s stock worth $841,000 after acquiring an additional 126 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Lamb Weston by 3.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,885 shares of the specialty retailer’s stock worth $334,000 after acquiring an additional 140 shares during the last quarter. 6 Meridian raised its holdings in Lamb Weston by 2.1% in the 4th quarter. 6 Meridian now owns 8,342 shares of the specialty retailer’s stock worth $718,000 after acquiring an additional 172 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in Lamb Weston by 6.4% in the 4th quarter. Synovus Financial Corp now owns 3,110 shares of the specialty retailer’s stock worth $267,000 after acquiring an additional 187 shares during the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.
NYSE LW opened at $56.33 on Thursday. The company has a debt-to-equity ratio of 10.96, a current ratio of 1.65 and a quick ratio of 0.70. The stock has a market capitalization of $8.04 billion, a PE ratio of 16.38, a PEG ratio of 4.07 and a beta of 0.30. Lamb Weston has a 1 year low of $39.06 and a 1 year high of $96.32. The business’s 50-day moving average is $80.02 and its 200 day moving average is $81.38.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, May 7th. This represents a $0.92 annualized dividend and a yield of 1.63%. Lamb Weston’s payout ratio is 28.57%.
About Lamb Weston
Lamb Weston Holdings, Inc produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, sweet potatoes, and appetizers under the Lamb Weston brand name, as well as various customer labels.
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