Lowe’s Cos. (NYSE:LOW)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $67.81, but opened at $67.02. Lowe’s Cos. shares last traded at $67.51, with a volume of 4,442,932 shares trading hands.

The home improvement retailer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.96 by $0.08. The company earned $15.70 billion during 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 business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, January 23rd. Lowe’s Cos.’s payout ratio is currently 45.16%.

LOW has been the subject of several research analyst reports. Credit Suisse Group AG set a $80.00 price objective on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Friday, September 23rd. Robert W. Baird set a $88.00 price objective on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Monday, September 19th. Morgan Stanley set a $87.00 price objective on shares of Lowe’s Cos. and gave the stock a “buy” rating in a report on Friday, August 19th. Vetr downgraded shares of Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $76.30 price target for the company. in a report on Tuesday, October 18th. Finally, BTIG Research reissued a “buy” rating on shares of Lowe’s Cos. in a report on Wednesday. Twelve analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $82.36.

Several large investors have recently bought and sold shares of the stock. Integrated Investment Consultants LLC boosted its stake in Lowe’s Cos. by 5.5% in the second quarter. Integrated Investment Consultants LLC now owns 2,921 shares of the home improvement retailer’s stock valued at $231,000 after buying an additional 151 shares in the last quarter. First Financial Bank N.A. Trust Division boosted its stake in Lowe’s Cos. by 2.3% in the second quarter. First Financial Bank N.A. Trust Division now owns 65,508 shares of the home improvement retailer’s stock valued at $5,186,000 after buying an additional 1,481 shares in the last quarter. Boltwood Capital Management boosted its stake in Lowe’s Cos. by 0.7% in the second quarter. Boltwood Capital Management now owns 30,270 shares of the home improvement retailer’s stock valued at $2,396,000 after buying an additional 225 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its stake in Lowe’s Cos. by 3.5% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 2,526 shares of the home improvement retailer’s stock valued at $260,000 after buying an additional 85 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in Lowe’s Cos. by 8.2% in the second quarter. Fulton Bank N.A. now owns 3,409 shares of the home improvement retailer’s stock valued at $270,000 after buying an additional 259 shares in the last quarter. 75.07% of the stock is owned by institutional investors.

The firm has a market capitalization of $59.43 billion, a P/E ratio of 22.03 and a beta of 1.25. The firm’s 50 day moving average is $69.49 and its 200-day moving average is $75.82.

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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