Lowe’s Cos.’s (LOW) “Buy” Rating Reaffirmed at BTIG Research
LOW has been the subject of several other research reports. Credit Suisse Group AG set a $80.00 price target on shares of Lowe’s Cos. and gave the stock a buy rating in a research report on Friday, September 23rd. Robert W. Baird set a $88.00 price target on shares of Lowe’s Cos. and gave the stock a buy rating in a research report on Monday, September 19th. Morgan Stanley set a $87.00 price target on shares of Lowe’s Cos. and gave the stock a buy rating in a research report on Friday, August 19th. Vetr cut shares of Lowe’s Cos. from a strong-buy rating to a buy rating and set a $76.30 price objective for the company. in a research note on Tuesday, October 18th. Finally, JPMorgan Chase & Co. cut shares of Lowe’s Cos. from an overweight rating to a neutral rating and dropped their price objective for the company from $87.00 to $72.00 in a research note on Wednesday, October 26th. Twelve equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $82.36.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.783% during mid-day trading on Wednesday, reaching $67.545. 5,488,125 shares of the company’s stock traded hands. Lowe’s Cos. has a 12-month low of $62.62 and a 12-month high of $83.65. The company’s 50-day moving average price is $69.49 and its 200-day moving average price is $75.82. The stock has a market capitalization of $59.08 billion, a PE ratio of 21.895 and a beta of 1.25.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.96 by $0.08. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same quarter last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts anticipate that Lowe’s Cos. will post $4.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, January 23rd. Lowe’s Cos.’s dividend payout ratio (DPR) is 45.16%.
A number of institutional investors have recently modified their holdings of LOW. The Manufacturers Life Insurance Company acquired a new position in shares of Lowe’s Cos. during the third quarter valued at $435,695,000. Bank of Montreal Can acquired a new position in shares of Lowe’s Cos. during the second quarter valued at $284,442,000. Emerald Acquisition Ltd. acquired a new position in shares of Lowe’s Cos. during the second quarter valued at $162,367,000. Old Mutual Global Investors UK Ltd. raised its position in shares of Lowe’s Cos. by 888.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,654,218 shares of the home improvement retailer’s stock valued at $119,451,000 after buying an additional 1,486,916 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock valued at $1,042,084,000 after buying an additional 1,280,426 shares during the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
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.
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