Lowe’s Companies, Inc. (LOW) Rating Reiterated by Longbow Research
Longbow Research reaffirmed their buy rating on shares of Lowe’s Companies, Inc. (NYSE:LOW) in a research report released on Monday. The firm currently has a $95.00 target price on the home improvement retailer’s stock.
A number of other analysts also recently issued reports on the company. Goldman Sachs Group, Inc. (The) decreased their price target on Lowe’s Companies from $97.00 to $96.00 and set a buy rating for the company in a report on Thursday, May 25th. Vetr downgraded Lowe’s Companies from a hold rating to a sell rating and set a $83.11 price target for the company. in a report on Monday, May 8th. Stifel Nicolaus decreased their price target on Lowe’s Companies from $89.00 to $87.00 and set a buy rating for the company in a report on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $100.00 price target on Lowe’s Companies and gave the stock a buy rating in a report on Wednesday, May 24th. Finally, Zacks Investment Research raised Lowe’s Companies from a hold rating to a buy rating and set a $92.00 price target for the company in a report on Tuesday, April 18th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $85.63.
Shares of Lowe’s Companies (LOW) traded down 3.31% during midday trading on Monday, hitting $75.15. The company had a trading volume of 4,335,930 shares. The firm has a market capitalization of $63.44 billion, a PE ratio of 23.57 and a beta of 1.08. The company has a 50-day moving average of $76.74 and a 200 day moving average of $79.53. Lowe’s Companies has a 12 month low of $64.87 and a 12 month high of $86.25.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion during the quarter, compared to analysts’ expectations of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. On average, analysts expect that Lowe’s Companies will post $4.62 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. SRS Capital Advisors Inc. increased its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the last quarter. Washington Trust Bank increased its stake in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Lowe’s Companies during the first quarter worth approximately $103,000. State of Alaska Department of Revenue purchased a new stake in Lowe’s Companies during the first quarter worth approximately $109,000. Finally, Hanson McClain Inc. increased its stake in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors.
Lowe’s Companies Company Profile
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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