Lamb Weston (LW) to Release Quarterly Earnings on Thursday

Lamb Weston (NYSE:LW) will be issuing 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Lamb Weston (NYSE:LW) last announced 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. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Lamb Weston had a return on equity of 63.19% and a net margin of 17.71%. Lamb Weston’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous 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 Price Performance

Shares of LW stock opened at $103.81 on Wednesday. The stock’s fifty day simple moving average is $102.98 and its 200 day simple moving average is $99.98. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.57. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.20 and a beta of 0.72. Lamb Weston has a one year low of $81.25 and a one year high of $117.38.

Lamb Weston Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 3rd will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Thursday, May 2nd. Lamb Weston’s dividend payout ratio is currently 18.73%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LW. BNP Paribas began coverage on Lamb Weston in a research note on Monday, March 11th. They set an “outperform” rating and a $128.00 price target on the stock. Stifel Nicolaus upped their price target on Lamb Weston from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Citigroup assumed coverage on Lamb Weston in a report on Thursday, February 1st. They issued a “buy” rating and a $132.00 price objective for the company. StockNews.com downgraded Lamb Weston from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Wells Fargo & Company assumed coverage on Lamb Weston in a report on Tuesday, December 12th. They issued an “overweight” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.20.

Institutional Investors Weigh In On Lamb Weston

Hedge funds have recently modified their holdings of the company. Viking Global Investors LP acquired a new position in Lamb Weston during the 4th quarter worth about $383,220,000. Duquesne Family Office LLC lifted its stake in shares of Lamb Weston by 75.1% in the 4th quarter. Duquesne Family Office LLC now owns 1,657,875 shares of the specialty retailer’s stock valued at $148,148,000 after purchasing an additional 711,075 shares during the period. Imprint Wealth LLC lifted its stake in shares of Lamb Weston by 11,689.2% in the 2nd quarter. Imprint Wealth LLC now owns 543,599 shares of the specialty retailer’s stock valued at $54,360,000 after purchasing an additional 538,988 shares during the period. Norges Bank acquired a new position in shares of Lamb Weston in the 4th quarter valued at about $47,708,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Lamb Weston by 71.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,115,126 shares of the specialty retailer’s stock valued at $128,184,000 after purchasing an additional 466,466 shares during the period. Institutional investors and hedge funds own 89.56% of the company’s stock.

About Lamb Weston

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.