Lamb Weston Holdings Inc. (LW) Announces Earnings Results
Lamb Weston Holdings Inc. (NYSE:LW) posted its quarterly earnings results on Wednesday. The specialty retailer reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07, Bloomberg Earnings reports. Lamb Weston Holdings had a net margin of 10.31% and a negative return on equity of 50.81%. The firm had revenue of $817.50 million for the quarter, compared to the consensus estimate of $795.61 million. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.
Lamb Weston Holdings (NYSE LW) opened at 48.59 on Friday. The company has a 50 day moving average price of $45.97 and a 200-day moving average price of $44.37. The company has a market capitalization of $7.10 billion and a PE ratio of 21.89. Lamb Weston Holdings has a 12-month low of $29.62 and a 12-month high of $49.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.54%. Lamb Weston Holdings’s dividend payout ratio is 33.63%.
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A number of research firms have weighed in on LW. Zacks Investment Research downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus downgraded shares of Lamb Weston Holdings from a “buy” rating to a “hold” rating and lifted their price target for the stock from $42.00 to $44.00 in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and issued a $58.00 target price (up previously from $53.00) on shares of Lamb Weston Holdings in a research note on Thursday. Morgan Stanley boosted their target price on shares of Lamb Weston Holdings from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Bank of America Corporation boosted their target price on shares of Lamb Weston Holdings from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Lamb Weston Holdings has an average rating of “Buy” and an average price target of $47.22.
Lamb Weston Holdings Company Profile
Lamb Weston Holdings, Inc (Lamb Weston), is a supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. The Company’s segments include Global, Foodservice, Retail and Other. The Global segment includes operations associated with Lamb Weston’s business with large chain restaurant customers, whether those results are generated in the United States or abroad, as well as operations associated with retail and foodservice customers located outside of the United States and Canada.
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