Lowe’s Cos. (NYSE:LOW) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of ~$3.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.03. The company issued revenue guidance of +9-10% to ~$64.4-65.0 billion, compared to the consensus revenue estimate of $64.95 billion.

Shares of Lowe’s Cos. (NYSE:LOW) opened at 69.05 on Wednesday. The company has a market cap of $60.40 billion, a P/E ratio of 22.38 and a beta of 1.25. The firm has a 50-day moving average of $69.73 and a 200 day moving average of $75.98. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65.

Lowe’s Cos. (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The business had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.86 billion. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Equities analysts expect that Lowe’s Cos. will post $4.00 EPS for the current fiscal year.

Earnings History and Estimates for Lowe`s Cos. (NYSE:LOW)

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Monday, January 23rd. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.

Several research firms have recently commented on LOW. JPMorgan Chase & Co. restated a buy rating and issued a $89.00 target price on shares of Lowe’s Cos. in a research note on Tuesday, August 16th. Cleveland Research cut shares of Lowe’s Cos. from a buy rating to a neutral rating in a research note on Thursday, October 6th. BMO Capital Markets raised their target price on shares of Lowe’s Cos. from $76.43 to $86.00 and gave the stock an outperform rating in a research note on Monday, August 22nd. Zacks Investment Research cut shares of Lowe’s Cos. from a buy rating to a hold rating in a research note on Friday, August 19th. Finally, Vetr upgraded shares of Lowe’s Cos. from a hold rating to a buy rating and set a $72.18 target price for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Lowe’s Cos. currently has an average rating of Buy and an average target price of $83.18.

Several hedge funds and other institutional investors have recently bought and sold shares of LOW. Primecap Management Co. CA boosted its position in Lowe’s Cos. by 1,281.4% in the second quarter. Primecap Management Co. CA now owns 915,900 shares of the home improvement retailer’s stock worth $72,512,000 after buying an additional 849,600 shares during the last quarter. AXA boosted its position in Lowe’s Cos. by 155.8% in the second quarter. AXA now owns 1,027,458 shares of the home improvement retailer’s stock worth $81,344,000 after buying an additional 625,827 shares during the last quarter. Teachers Advisors Inc. boosted its position in Lowe’s Cos. by 39.1% in the second quarter. Teachers Advisors Inc. now owns 1,929,231 shares of the home improvement retailer’s stock worth $152,737,000 after buying an additional 542,594 shares during the last quarter. Alliancebernstein L.P. boosted its position in Lowe’s Cos. by 30.8% in the second quarter. Alliancebernstein L.P. now owns 2,214,424 shares of the home improvement retailer’s stock worth $175,316,000 after buying an additional 521,030 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Lowe’s Cos. by 29.4% in the second quarter. Bessemer Group Inc. now owns 2,017,180 shares of the home improvement retailer’s stock worth $159,700,000 after buying an additional 458,472 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Cos.

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.

5 Day Chart for NYSE:LOW

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