Equities research analysts forecast that Lamb Weston Holdings Inc (NYSE:LW) will post sales of $876.27 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Lamb Weston’s earnings. The highest sales estimate is $884.80 million and the lowest is $865.00 million. Lamb Weston reported sales of $989.00 million in the same quarter last year, which indicates a negative year over year growth rate of 11.4%. The business is expected to report its next quarterly earnings report on Wednesday, October 7th.
According to Zacks, analysts expect that Lamb Weston will report full-year sales of $3.71 billion for the current financial year, with estimates ranging from $3.54 billion to $3.80 billion. For the next financial year, analysts anticipate that the business will post sales of $3.93 billion, with estimates ranging from $3.71 billion to $4.11 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Lamb Weston.
Lamb Weston (NYSE:LW) last released its quarterly earnings results on Tuesday, July 28th. The specialty retailer reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.17). The firm had revenue of $846.90 million during the quarter, compared to analysts’ expectations of $829.33 million. Lamb Weston had a return on equity of 183.08% and a net margin of 9.65%. The business’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share.
A number of analysts have commented on LW shares. Barclays reiterated a “buy” rating and issued a $60.00 price objective on shares of Lamb Weston in a report on Tuesday, May 19th. TheStreet downgraded shares of Lamb Weston from a “b-” rating to a “c+” rating in a report on Thursday, July 30th. Finally, Zacks Investment Research downgraded shares of Lamb Weston from a “hold” rating to a “sell” rating and set a $70.00 price target for the company. in a report on Wednesday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.40.
In other news, Director Robert A. Niblock purchased 2,500 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $59.70 per share, for a total transaction of $149,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of LW. Royal Fund Management LLC acquired a new stake in Lamb Weston in the 1st quarter valued at approximately $27,000. Key Financial Inc purchased a new position in Lamb Weston in the 1st quarter valued at approximately $30,000. Fred Alger Management LLC boosted its position in Lamb Weston by 196.2% in the 1st quarter. Fred Alger Management LLC now owns 548 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 363 shares during the period. Carroll Financial Associates Inc. boosted its position in Lamb Weston by 209.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 573 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 388 shares during the period. Finally, WASHINGTON TRUST Co purchased a new position in Lamb Weston in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 96.34% of the company’s stock.
Shares of LW stock traded down $0.84 on Thursday, reaching $62.44. The stock had a trading volume of 575,716 shares, compared to its average volume of 840,791. The stock has a market cap of $9.12 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 8.33 and a beta of 0.75. The company has a debt-to-equity ratio of 12.47, a quick ratio of 1.77 and a current ratio of 2.25. Lamb Weston has a 1 year low of $39.06 and a 1 year high of $96.32. The company has a 50 day simple moving average of $63.77 and a 200 day simple moving average of $64.54.
The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.47%. Lamb Weston’s dividend payout ratio is currently 36.80%.
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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