Lowe’s Cos. (LOW) Downgraded by Cleveland Research to Neutral
Lowe’s Cos. (NYSE:LOW) was downgraded by research analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday.
Other equities analysts have also issued research reports about the company. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Lowe’s Cos. in a research note on Wednesday, July 6th. Peel Hunt reiterated a “buy” rating and issued a $85.00 price objective on shares of Lowe’s Cos. in a report on Wednesday, July 6th. Vetr downgraded Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $86.38 price objective for the company. in a report on Monday, June 20th. Deutsche Bank AG reiterated a “buy” rating and issued a $86.00 price objective on shares of Lowe’s Cos. in a report on Thursday, June 16th. Finally, Stifel Nicolaus initiated coverage on Lowe’s Cos. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $85.93.
Shares of Lowe’s Cos. (NYSE:LOW) opened at 72.25 on Thursday. The stock’s 50 day moving average price is $73.99 and its 200 day moving average price is $77.32. Lowe’s Cos. has a one year low of $62.62 and a one year high of $83.65. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 23.42 and a beta of 1.13.
Lowe’s Cos. (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The firm had revenue of $18.26 billion for the quarter, compared to analyst estimates of $18.42 billion. During the same period last year, the company earned $1.20 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.94%. Lowe’s Cos.’s dividend payout ratio (DPR) is currently 45.16%.
Several institutional investors have recently made changes to their positions in LOW. CWM LLC raised its position in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Lowe’s Cos. during the second quarter worth approximately $103,000. Hanson McClain Inc. raised its position in Lowe’s Cos. by 17.5% in the second quarter. Hanson McClain Inc. now owns 1,328 shares of the home improvement retailer’s stock worth $105,000 after buying an additional 198 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lowe’s Cos. during the second quarter worth approximately $110,000. Finally, Roble Belko & Company Inc raised its position in Lowe’s Cos. by 966.9% in the second quarter. Roble Belko & Company Inc now owns 1,387 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 1,257 shares during the period. Institutional investors own 75.48% of the company’s stock.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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