Zacks: Analysts Expect Lamb Weston Holdings Inc (LW) Will Announce Quarterly Sales of $879.00 Million

Equities analysts expect Lamb Weston Holdings Inc (NYSE:LW) to announce $879.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Lamb Weston’s earnings, with estimates ranging from $871.00 million to $887.00 million. Lamb Weston posted sales of $817.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The firm is expected to report its next quarterly earnings results on Wednesday, October 3rd.

On average, analysts expect that Lamb Weston will report full year sales of $3.57 billion for the current fiscal year, with estimates ranging from $3.47 billion to $3.63 billion. For the next year, analysts anticipate that the firm will report sales of $3.70 billion per share, with estimates ranging from $3.56 billion to $3.79 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Lamb Weston.

Lamb Weston (NYSE:LW) last issued its quarterly earnings data on Wednesday, July 25th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Lamb Weston had a negative return on equity of 85.84% and a net margin of 12.16%. The business had revenue of $918.20 million during the quarter, compared to analyst estimates of $885.67 million. During the same period in the previous year, the firm earned $0.51 EPS. Lamb Weston’s quarterly revenue was up 10.3% compared to the same quarter last year.

A number of brokerages have commented on LW. Zacks Investment Research cut Lamb Weston from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Jefferies Financial Group upped their price target on shares of Lamb Weston from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. ValuEngine raised shares of Lamb Weston from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Bank of America upped their price target on shares of Lamb Weston from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Finally, Vertical Group initiated coverage on shares of Lamb Weston in a research report on Tuesday, May 22nd. They set a “sell” rating and a $56.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Lamb Weston presently has a consensus rating of “Hold” and a consensus target price of $68.33.

LW traded down $0.54 during trading hours on Thursday, reaching $71.09. The company’s stock had a trading volume of 399,168 shares, compared to its average volume of 861,304. Lamb Weston has a 52 week low of $44.08 and a 52 week high of $73.19. The company has a current ratio of 1.79, a quick ratio of 0.73 and a debt-to-equity ratio of -6.98. The stock has a market cap of $10.49 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.15 and a beta of 0.46.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 3rd will be issued a dividend of $0.1913 per share. The ex-dividend date is Thursday, August 2nd. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.08%. Lamb Weston’s dividend payout ratio (DPR) is 28.57%.

Large investors have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of Lamb Weston by 2.4% in the second quarter. BlackRock Inc. now owns 13,875,099 shares of the specialty retailer’s stock worth $950,584,000 after purchasing an additional 328,259 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Lamb Weston by 2.8% in the second quarter. Wells Fargo & Company MN now owns 3,794,823 shares of the specialty retailer’s stock worth $259,982,000 after purchasing an additional 102,301 shares in the last quarter. Newbrook Capital Advisors LP lifted its position in shares of Lamb Weston by 12.9% in the first quarter. Newbrook Capital Advisors LP now owns 2,594,897 shares of the specialty retailer’s stock worth $151,075,000 after purchasing an additional 296,962 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Lamb Weston by 6.4% in the second quarter. Congress Asset Management Co. MA now owns 1,464,181 shares of the specialty retailer’s stock worth $100,311,000 after purchasing an additional 87,923 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Lamb Weston by 55.3% in the first quarter. Millennium Management LLC now owns 1,130,798 shares of the specialty retailer’s stock worth $65,835,000 after purchasing an additional 402,428 shares in the last quarter. 80.05% of the stock is currently owned by institutional investors.

About Lamb Weston

Lamb Weston Holdings, Inc produces 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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