Lowe’s Companies, Inc. (NYSE: LOW – Get Rating) – Wedbush analysts raised their third-quarter 2023 EPS estimates for shares of Lowe’s Companies in a report released Thursday, August 18. Wedbush analyst S. Basham now expects the home improvement retailer to post earnings of $3.22 per share for the quarter, up from its previous forecast of $3.15. Wedbush currently has a “Neutral” rating and a price target of $225.00 on the stock. The consensus estimate of Lowe’s Companies current annual earnings is $13.45 per share. Wedbush also released Lowe’s Companies earnings estimates for Q4 2023 at $2.14 EPS, fiscal year 2023 earnings at $13.54 EPS, Q1 2024 earnings at $3.91 EPS, earnings Q2 2024 earnings at $5.16 EPS, Q3 2024 earnings at $3.57 EPS, Q4 2024 earnings at $2.24 EPS, FY2024 earnings at $14.88 EPS and FY2025 earnings at $16.52 EPS.
Lowe’s Companies (NYSE:LOW – Get Rating) last released quarterly earnings data on Wednesday, August 17. The home improvement retailer reported earnings per share of $4.67 for the quarter, beating analysts’ consensus estimate of $4.59 by $0.08. The company posted revenue of $27.48 billion in the quarter, compared to $28.16 billion expected by analysts. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The company’s revenue for the quarter was down 0.3% year over year. In the same period a year earlier, the company posted earnings of $4.25 per share.
Other equity research analysts have also recently released reports on the stock. Morgan Stanley cut its price target on Lowe’s Companies stock from $280.00 to $270.00 and set an “overweight” rating for the company in a Wednesday, July 20 research report. JPMorgan Chase & Co. cut its price target on Lowe’s Companies stock from $230.00 to $210.00 and set a “neutral” rating for the company in a Tuesday, Aug. 9 research report. Wells Fargo & Company raised its price target on shares of Lowe’s Companies from $220.00 to $245.00 in a report released Wednesday. DA Davidson raised its price target on shares of Lowe’s Companies from $225.00 to $247.00 in a report released Thursday. Finally, Citigroup downgraded shares of Lowe’s Companies from a “buy” rating to a “neutral” rating and lowered its price target for the company from $222.00 to $205.00 in a Thursday, Aug. 11 report. . One research analyst rated the security with a sell rating, five issued a hold rating and fifteen gave the security a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.32.
Shares of Lowe’s companies down 2.4%
Shares of NYSE LOW opened at $211.36 on Friday. The company has a 50-day simple moving average of $188.28 and a 200-day simple moving average of $202.23. The stock has a market capitalization of $135.09 billion, a price-to-earnings ratio of 16.66, a growth price-to-earnings ratio of 1.22 and a beta of 1.25. Lowe’s Companies has a 52-week low of $170.12 and a 52-week high of $263.31.
Institutional Negotiation of Lowe’s Companies
Several hedge funds have recently increased or reduced their stakes in the company. Oldfather Financial Services LLC increased its position in Lowe’s Companies by 4.8% in the fourth quarter. Oldfather Financial Services LLC now owns 1,021 shares of the home improvement retailer’s stock valued at $232,000 after buying 47 additional shares in the last quarter. PSI Advisors LLC increased its position in Lowe’s Companies by 1.2% in the 1st quarter. PSI Advisors LLC now owns 4,056 shares of the home improvement retailer valued at $820,000 after buying 50 additional shares in the last quarter. Arbor Trust Wealth Advisors LLC increased its position in Lowe’s Companies by 1.5% in Q1. Arbor Trust Wealth Advisors LLC now owns 3,461 shares of the home improvement retailer valued at $700,000 after buying 50 additional shares in the last quarter. Westhampton Capital LLC increased its position in Lowe’s Companies by 0.7% in Q1. Westhampton Capital LLC now owns 7,100 shares of the home improvement retailer valued at $1,436,000 after buying 50 additional shares in the last quarter. Finally, Rollins Financial increased its position in Lowe’s Companies by 4.1% in the 1st quarter. Rollins Financial now owns 1,263 shares of the home improvement retailer valued at $255,000 after buying 50 more shares in the last quarter. Institutional investors and hedge funds hold 75.46% of the company’s shares.
Lowe’s Companies increases its dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 3. Investors of record on Wednesday, July 20 received a dividend of $1.05. This is a boost from Lowe’s Companies’ previous quarterly dividend of $0.80. The ex-dividend date was Tuesday, July 19. This represents an annualized dividend of $4.20 and a yield of 1.99%. Lowe’s Companies’ dividend payout ratio (DPR) is 33.10%.
About Lowe’s Companies
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Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and around the world. The company offers a range of products for construction, maintenance, repair, renovation and decoration. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bathrooms, tools, paint, carpentry, hardware, flooring, rough plumbing, building materials, decorating, lighting and electrical.
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