Lamb Weston (LW) Set to Announce Quarterly Earnings on Thursday

Lamb Weston (NYSE:LWGet Free Report) is set to issue its quarterly earnings data before the market opens on Thursday, April 4th. Analysts expect the company to announce 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.Investors interested in participating in the company’s conference call can do so using this link.

Lamb Weston (NYSE:LWGet Free Report) last announced its quarterly earnings data on Thursday, January 4th. The specialty retailer reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. Lamb Weston had a net margin of 17.71% and a return on equity of 63.19%. Lamb Weston’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. 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 Trading Up 0.7 %

NYSE:LW opened at $106.30 on Thursday. 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 stock has a fifty day moving average price of $103.31 and a two-hundred day moving average price of $99.79. Lamb Weston has a 1 year low of $81.25 and a 1 year high of $117.38. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.15 and a beta of 0.72.

Lamb Weston Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, May 2nd. Lamb Weston’s payout ratio is currently 18.73%.

Analyst Upgrades and Downgrades

LW has been the subject of a number of recent research reports. 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 price objective for the company. StockNews.com cut shares of Lamb Weston from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Citigroup assumed coverage on shares of Lamb Weston in a research report on Thursday, February 1st. They issued a “buy” rating and a $132.00 price objective for the company. Stifel Nicolaus boosted their price objective on Lamb Weston from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, January 5th. Finally, BNP Paribas initiated coverage on Lamb Weston in a research note on Monday, March 11th. They issued an “outperform” rating and a $128.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.20.

View Our Latest Report on LW

Institutional Trading of Lamb Weston

Several institutional investors have recently added to or reduced their stakes in LW. Vanguard Group Inc. lifted its holdings in shares of Lamb Weston by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 16,085,009 shares of the specialty retailer’s stock worth $963,653,000 after purchasing an additional 198,274 shares during the last quarter. State Street Corp boosted its holdings in shares of Lamb Weston by 3.4% during the first quarter. State Street Corp now owns 5,224,012 shares of the specialty retailer’s stock valued at $312,971,000 after acquiring an additional 172,399 shares during the period. Viking Global Investors LP bought a new position in shares of Lamb Weston during the fourth quarter worth about $383,220,000. Geode Capital Management LLC increased its holdings in shares of Lamb Weston by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 3,043,919 shares of the specialty retailer’s stock worth $317,658,000 after acquiring an additional 69,429 shares during the period. Finally, Invesco Ltd. lifted its position in Lamb Weston by 13.1% in the 1st quarter. Invesco Ltd. now owns 2,025,493 shares of the specialty retailer’s stock valued at $121,348,000 after purchasing an additional 235,014 shares during the last quarter. Institutional investors own 89.56% of the company’s stock.

About Lamb Weston

(Get Free Report)

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.

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Earnings History for Lamb Weston (NYSE:LW)

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