Lamb Weston (NYSE:LW) Releases Earnings Results, Misses Estimates By $0.20 EPS

Lamb Weston (NYSE:LW - Get Free Report) released its earnings results on Thursday. The specialty retailer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.20), Briefing.com reports. Lamb Weston had a net margin of 17.71% and a return on equity of 63.19%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business's revenue was up 16.3% on a year-over-year basis. Lamb Weston updated its FY24 guidance to $5.50-5.65 EPS and its FY 2024 guidance to 5.500-5.650 EPS.

Lamb Weston Trading Down 19.4 %

Shares of Lamb Weston stock opened at $81.53 on Friday. The company has a 50 day simple moving average of $102.42 and a two-hundred day simple moving average of $99.86. The firm has a market cap of $11.77 billion, a PE ratio of 10.60, a PEG ratio of 1.14 and a beta of 0.72. Lamb Weston has a 1 year low of $80.02 and a 1 year high of $117.38. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.29 and a quick ratio of 0.57.

Lamb Weston Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 1.77%. The ex-dividend date is Thursday, May 2nd. Lamb Weston's dividend payout ratio is currently 18.73%.

Institutional Investors Weigh In On Lamb Weston

A number of large investors have recently added to or reduced their stakes in LW. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 198,274 shares during the last quarter. State Street Corp raised 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 in the last quarter. Viking Global Investors LP purchased a new stake in Lamb Weston in the fourth quarter worth $383,220,000. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 69,429 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Lamb Weston by 13.1% during the first quarter. Invesco Ltd. now owns 2,025,493 shares of the specialty retailer's stock valued at $121,348,000 after buying an additional 235,014 shares during the period. Hedge funds and other institutional investors own 89.56% of the company's stock.

Analyst Upgrades and Downgrades

LW has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Lamb Weston from a "hold" rating to a "sell" rating in a report on Friday, January 5th. Citigroup began coverage on shares of Lamb Weston in a research report on Thursday, February 1st. They set a "buy" rating and a $132.00 target price for the company. Stifel Nicolaus dropped their price objective on Lamb Weston from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday. BNP Paribas assumed coverage on Lamb Weston in a report on Monday, March 11th. They set an "outperform" rating and a $128.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on Lamb Weston in a research note on Tuesday, December 12th. They issued an "overweight" rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $125.70.

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.