Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – DA Davidson upped their FY2023 earnings estimates for Lowe’s Companies in a research note issued to investors on Thursday, August 18th. DA Davidson analyst M. Baker now anticipates that the home improvement retailer will earn $13.60 per share for the year, up from their previous forecast of $13.35. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.50 per share. DA Davidson also issued estimates for Lowe’s Companies’ FY2024 earnings at $15.34 EPS.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The business had revenue of $27.48 billion for the quarter, compared to analyst estimates of $28.16 billion. During the same period in the prior year, the business posted $4.25 earnings per share. Lowe’s Companies’s revenue was down .3% compared to the same quarter last year.
Ad Tradewins
The Safest Option in Trades!
If you’re new to trading, then you’ve probably heard the wrong thing about options—that they’re risky, unpredictable, or difficult.
And it couldn’t be more wrong! With the Hughes Optioneering Strategy, you’ll soon learn that the safest option for new accounts is options themselves!
Several other equities analysts have also weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $220.00 to $245.00 in a report on Wednesday, August 17th. Gordon Haskett lowered shares of Lowe’s Companies from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. OTR Global lowered shares of Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Morgan Stanley cut their target price on shares of Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Finally, Wedbush increased their target price on shares of Lowe’s Companies from $200.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.32.
Lowe’s Companies Price Performance
Shares of NYSE LOW opened at $211.36 on Monday. The company’s 50 day simple moving average is $188.28 and its 200 day simple moving average is $201.74. Lowe’s Companies has a fifty-two week low of $170.12 and a fifty-two week high of $263.31. The firm has a market capitalization of $135.09 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.20 and a beta of 1.25.
Lowe’s Companies Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were paid a $1.05 dividend. The ex-dividend date was Tuesday, July 19th. This represents a $4.20 dividend on an annualized basis and a yield of 1.99%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.10%.
Institutional Trading of Lowe’s Companies
A number of large investors have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in Lowe’s Companies in the second quarter valued at $319,000. Eagle Bay Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth about $176,000. IMA Wealth Inc. lifted its stake in shares of Lowe’s Companies by 1.3% during the 2nd quarter. IMA Wealth Inc. now owns 10,065 shares of the home improvement retailer’s stock worth $1,758,000 after buying an additional 131 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth about $47,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Lowe’s Companies by 2.7% during the 2nd quarter. International Assets Investment Management LLC now owns 7,413 shares of the home improvement retailer’s stock worth $1,295,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
About Lowe’s Companies
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Lowe’s Companies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lowe’s Companies wasn’t on the list.
While Lowe’s Companies currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.