Lowe’s Companies, Inc. (LOW) Earns Buy Rating from BTIG Research
BTIG Research reissued their buy rating on shares of Lowe’s Companies, Inc. (NYSE:LOW) in a research note issued to investors on Friday, May 19th. The firm currently has a $95.00 target price on the home improvement retailer’s stock, up from their prior target price of $90.00.
Other analysts have also issued research reports about the stock. Wedbush reiterated a neutral rating and set a $77.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, February 22nd. Robert W. Baird reiterated an outperform rating and set a $85.00 price objective on shares of Lowe’s Companies in a research note on Thursday, February 16th. Vetr lowered shares of Lowe’s Companies from a hold rating to a sell rating and set a $83.11 price objective on the stock. in a research note on Monday, May 8th. Zacks Investment Research upgraded shares of Lowe’s Companies from a hold rating to a buy rating and set a $92.00 price objective on the stock in a research note on Tuesday, April 18th. Finally, Credit Suisse Group set a $83.00 price objective on shares of Lowe’s Companies and gave the company a buy rating in a research note on Thursday, March 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $85.63.
Lowe’s Companies (LOW) traded down 0.73% during mid-day trading on Friday, reaching $79.80. 7,752,879 shares of the company were exchanged. The company has a 50 day moving average of $82.31 and a 200-day moving average of $78.22. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 25.02 and a beta of 1.08. Lowe’s Companies has a 1-year low of $64.87 and a 1-year high of $86.25.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The business had revenue of $16.86 billion during the quarter, compared to analysts’ expectations of $16.99 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies will post $4.62 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, July 24th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio is presently 44.03%.
In related news, CFO Marshall A. Croom sold 12,700 shares of the firm’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $82.14, for a total value of $1,043,178.00. Following the transaction, the chief financial officer now owns 53,479 shares in the company, valued at $4,392,765.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ricky D. Damron sold 17,152 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $81.96, for a total value of $1,405,777.92. Following the completion of the transaction, the chief operating officer now owns 78,225 shares in the company, valued at approximately $6,411,321. The disclosure for this sale can be found here. Insiders have sold 41,524 shares of company stock worth $3,385,050 in the last 90 days. Company insiders own 0.11% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. Norges Bank purchased a new position in Lowe’s Companies during the fourth quarter valued at about $556,574,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at about $526,087,000. The Manufacturers Life Insurance Company purchased a new position in Lowe’s Companies during the third quarter valued at about $435,695,000. Finally, OppenheimerFunds Inc. boosted its position in Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after buying an additional 5,380,759 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
About Lowe’s Companies
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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