Lamb Weston (NYSE:LW – Get Free Report) is scheduled to release its earnings data before the market opens on Thursday, April 4th. Analysts expect Lamb Weston to post earnings of $1.42 per share for the quarter. Lamb Weston has set its FY24 guidance at $5.70-6.15 EPS and its FY 2024 guidance at 5.700-6.150 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.
Lamb Weston (NYSE:LW – Get Free Report) last posted its quarterly earnings results on Thursday, January 4th. The specialty retailer reported $1.45 EPS for the quarter, beating the consensus estimate of $1.42 by $0.03. Lamb Weston had a net margin of 17.71% and a return on equity of 63.19%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The firm’s revenue was up 35.6% on a year-over-year basis. On average, analysts expect Lamb Weston to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Lamb Weston Price Performance
NYSE:LW opened at $106.30 on Thursday. Lamb Weston has a one year low of $81.25 and a one year high of $117.38. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.57 and a current ratio of 1.29. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.15 and a beta of 0.72. The firm’s fifty day moving average is $103.31 and its two-hundred day moving average is $99.79.
Lamb Weston Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, May 2nd. Lamb Weston’s payout ratio is 18.73%.
Institutional Trading of Lamb Weston
A number of hedge funds and other institutional investors have recently made changes to their positions in LW. Raymond James & Associates boosted its position in shares of Lamb Weston by 60.0% during the 1st quarter. Raymond James & Associates now owns 31,305 shares of the specialty retailer’s stock worth $1,875,000 after purchasing an additional 11,741 shares during the period. American Century Companies Inc. boosted its position in Lamb Weston by 37.5% in the 1st quarter. American Century Companies Inc. now owns 21,746 shares of the specialty retailer’s stock valued at $1,302,000 after buying an additional 5,933 shares during the period. Acadian Asset Management LLC purchased a new position in Lamb Weston in the 1st quarter valued at approximately $92,000. MetLife Investment Management LLC boosted its position in Lamb Weston by 28.5% in the 1st quarter. MetLife Investment Management LLC now owns 41,455 shares of the specialty retailer’s stock valued at $2,484,000 after buying an additional 9,184 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in Lamb Weston by 158.3% in the 1st quarter. Panagora Asset Management Inc. now owns 28,927 shares of the specialty retailer’s stock valued at $1,733,000 after buying an additional 17,726 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Lamb Weston in a research note on Tuesday, December 12th. They set an “overweight” rating and a $120.00 target price on the stock. Citigroup began coverage on shares of Lamb Weston in a research note on Thursday, February 1st. They issued a “buy” rating and a $132.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Lamb Weston from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, January 5th. StockNews.com lowered shares of Lamb Weston from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, BNP Paribas began coverage on shares of Lamb Weston in a research note on Monday, March 11th. They issued an “outperform” rating and a $128.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Lamb Weston currently has a consensus rating of “Moderate Buy” and an average target price of $127.20.
Lamb Weston Company Profile
Lamb Weston Holdings, Inc produces, distributes, and markets frozen potato products worldwide. The company operates through four segments: Global, Foodservice, Retail, and Other. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels.