Lowe’s Companies, Inc. (NYSE:LOW) Expected to Earn Q2 2023 Earnings of $4.68 Per Share

Lowe’s Companies, Inc. (NYSE:LOW) – Equities researchers at Truist Securities dropped their Q2 2023 earnings estimates for Lowe’s Companies in a research report issued to clients and investors on Tuesday, January 11th. Truist Securities analyst K. Hughes now forecasts that the home improvement retailer will post earnings of $4.68 per share for the quarter, down from their previous estimate of $4.72. Truist Securities has a “Buy” rating and a $284.00 price objective on the stock. Truist Securities also issued estimates for Lowe’s Companies’ Q1 2024 earnings at $3.51 EPS, Q2 2024 earnings at $5.29 EPS, Q3 2024 earnings at $3.47 EPS and FY2024 earnings at $14.55 EPS.

A number of other research analysts also recently commented on LOW. Evercore ISI raised shares of Lowe’s Companies from an “in-line” rating to an “outperform” rating and set a $280.00 target price on the stock in a research report on Thursday, January 6th. Piper Sandler increased their target price on shares of Lowe’s Companies from $231.00 to $295.00 and gave the company an “overweight” rating in a research report on Thursday, November 18th. Barclays increased their target price on shares of Lowe’s Companies from $215.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, November 18th. Robert W. Baird increased their target price on shares of Lowe’s Companies from $235.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, November 17th. Finally, Telsey Advisory Group increased their target price on shares of Lowe’s Companies from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $258.71.

Shares of NYSE:LOW opened at $243.40 on Friday. Lowe’s Companies has a 52 week low of $150.84 and a 52 week high of $263.31. The company’s 50 day moving average is $249.67 and its two-hundred day moving average is $220.72. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 49.23. The company has a market cap of $163.99 billion, a PE ratio of 21.15, a P/E/G ratio of 1.53 and a beta of 1.31.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 17th. The home improvement retailer reported $2.73 EPS for the quarter, beating the Zacks’ consensus estimate of $2.35 by $0.38. Lowe’s Companies had a net margin of 8.63% and a return on equity of 25,100.30%. The company had revenue of $22.92 billion for the quarter, compared to the consensus estimate of $22.06 billion. During the same period in the prior year, the firm posted $1.98 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year.

Lowe’s Companies declared that its board has authorized a stock buyback plan on Wednesday, December 15th that allows the company to buyback $13.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 2nd. Stockholders of record on Wednesday, January 19th will be issued a $0.80 dividend. The ex-dividend date is Tuesday, January 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.31%. Lowe’s Companies’s dividend payout ratio is presently 27.80%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Advisory Solutions LLC increased its holdings in shares of Lowe’s Companies by 2.2% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 2,032 shares of the home improvement retailer’s stock valued at $412,000 after purchasing an additional 43 shares in the last quarter. Cardan Capital Partners LLC increased its holdings in Lowe’s Companies by 3.7% during the 3rd quarter. Cardan Capital Partners LLC now owns 1,273 shares of the home improvement retailer’s stock valued at $258,000 after acquiring an additional 45 shares in the last quarter. Avion Wealth increased its holdings in Lowe’s Companies by 6.6% during the 3rd quarter. Avion Wealth now owns 723 shares of the home improvement retailer’s stock valued at $147,000 after acquiring an additional 45 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Lowe’s Companies by 1.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,081 shares of the home improvement retailer’s stock valued at $828,000 after acquiring an additional 45 shares in the last quarter. Finally, Kovack Advisors Inc. increased its holdings in Lowe’s Companies by 1.1% during the 3rd quarter. Kovack Advisors Inc. now owns 4,110 shares of the home improvement retailer’s stock valued at $834,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.17% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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