Jefferies Group Lowers Lowe’s Cos. (LOW) Price Target to $69.00
Lowe’s Cos. (NYSE:LOW) had its target price reduced by analysts at Jefferies Group to $69.00 in a research report issued on Thursday. Jefferies Group’s price objective suggests a potential downside of 0.45% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Bank of America Corp. reiterated a “buy” rating and issued a $87.65 price objective (up previously from $77.30) on shares of Lowe’s Cos. in a report on Wednesday, August 24th. Argus reiterated a “buy” rating and issued a $90.00 price objective on shares of Lowe’s Cos. in a report on Thursday, August 18th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $89.00 price objective on shares of Lowe’s Cos. in a report on Tuesday, August 16th. Cantor Fitzgerald reiterated a “buy” rating and issued a $85.00 price objective (up previously from $70.00) on shares of Lowe’s Cos. in a report on Saturday, August 13th. Finally, Vetr upgraded Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $87.38 price objective for the company in a report on Tuesday, August 2nd. Twelve investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Lowe’s Cos. presently has an average rating of “Buy” and an average price target of $82.36.
Shares of Lowe’s Cos. (NYSE:LOW) opened at 69.31 on Thursday. The stock’s 50 day moving average price is $69.31 and its 200-day moving average price is $75.76. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65. The stock has a market capitalization of $60.51 billion, a P/E ratio of 25.44 and a beta of 1.25.
Lowe’s Cos. (NYSE:LOW) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by $0.08. The firm had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.86 billion. Lowe’s Cos. had a return on equity of 46.46% and a net margin of 3.91%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. Equities research analysts anticipate that Lowe’s Cos. will post $3.93 EPS for the current fiscal year.
The company 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Monday, January 23rd. Lowe’s Cos.’s dividend payout ratio (DPR) is 51.28%.
Several large investors have recently added to or reduced their stakes in LOW. The Manufacturers Life Insurance Company purchased a new stake in Lowe’s Cos. during the third quarter valued at $435,695,000. Bank of Montreal Can purchased a new stake in Lowe’s Cos. during the second quarter valued at $284,442,000. Emerald Acquisition Ltd. purchased a new stake in Lowe’s Cos. during the second quarter valued at $162,367,000. Old Mutual Global Investors UK Ltd. increased its stake in 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 period. Finally, Ameriprise Financial Inc. increased its stake in 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 period. 74.34% of the stock is currently owned by 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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