Wall Street brokerages forecast that Lowe’s Companies, Inc. (NYSE:LOW) will announce $17.74 billion in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Lowe’s Companies’ earnings. The lowest sales estimate is $17.52 billion and the highest is $18.03 billion. Lowe’s Companies reported sales of $17.36 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The company is expected to issue its next quarterly earnings report on Wednesday, May 22nd.

According to Zacks, analysts expect that Lowe’s Companies will report full-year sales of $72.45 billion for the current fiscal year, with estimates ranging from $71.92 billion to $72.99 billion. For the next fiscal year, analysts expect that the business will post sales of $75.03 billion, with estimates ranging from $73.97 billion to $75.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Lowe’s Companies.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 27th. The home improvement retailer reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $15.65 billion during the quarter, compared to analyst estimates of $15.75 billion. Lowe’s Companies had a net margin of 3.24% and a return on equity of 80.91%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share.

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Lowe’s Companies to $105.00 and gave the company an “outperform” rating in a research report on Thursday, December 13th. Loop Capital increased their price target on shares of Lowe’s Companies from $99.00 to $102.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. Citigroup dropped their price target on shares of Lowe’s Companies from $112.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, November 21st. SunTrust Banks increased their price target on shares of Lowe’s Companies to $128.00 and gave the stock a “buy” rating in a research report on Thursday, December 13th. Finally, Wedbush set a $95.00 price target on shares of Lowe’s Companies and gave the stock a “hold” rating in a research report on Thursday, December 13th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $113.13.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC grew its stake in shares of Lowe’s Companies by 98.1% during the fourth quarter. Belpointe Asset Management LLC now owns 6,441 shares of the home improvement retailer’s stock valued at $595,000 after purchasing an additional 3,189 shares during the last quarter. Sowell Financial Services LLC bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $738,000. Fulcrum Equity Management bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $527,000. Norges Bank bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $734,285,000. Finally, Actinver Wealth Management Inc. bought a new position in Lowe’s Companies in the fourth quarter valued at approximately $488,000. 74.78% of the stock is owned by institutional investors.

Shares of LOW traded down $1.05 during trading hours on Tuesday, reaching $99.76. 70,197 shares of the company traded hands, compared to its average volume of 4,680,033. The firm has a market capitalization of $80.95 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.17 and a beta of 1.27. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.11 and a current ratio of 0.98. Lowe’s Companies has a 1-year low of $81.16 and a 1-year high of $117.70.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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Earnings History and Estimates for Lowe`s Companies (NYSE:LOW)

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