Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – KeyCorp decreased their Q2 2023 EPS estimates for shares of Lowe’s Companies in a report issued on Wednesday, May 18th. KeyCorp analyst B. Thomas now anticipates that the home improvement retailer will earn $4.73 per share for the quarter, down from their previous forecast of $4.77. KeyCorp also issued estimates for Lowe’s Companies’ Q3 2023 earnings at $3.04 EPS, Q4 2023 earnings at $2.26 EPS and FY2023 earnings at $13.58 EPS.
Other equities analysts have also recently issued research reports about the company. Piper Sandler lifted their price objective on Lowe’s Companies to $246.00 and gave the company an “underweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Lowe’s Companies from $228.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday. Telsey Advisory Group upped their price objective on Lowe’s Companies from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, February 24th. Gordon Haskett cut Lowe’s Companies from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. Finally, Evercore ISI started coverage on Lowe’s Companies in a research note on Tuesday, February 15th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $246.65.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.29. The firm had revenue of $23.66 billion during the quarter, compared to analyst estimates of $23.72 billion. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $3.21 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $25,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at approximately $27,000. Bell Investment Advisors Inc bought a new position in shares of Lowe’s Companies in the third quarter valued at approximately $32,000. Macroview Investment Management LLC lifted its holdings in shares of Lowe’s Companies by 49.1% in the first quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. Finally, Delos Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 388.2% during the fourth quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock worth $43,000 after acquiring an additional 132 shares during the period. 75.46% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Wednesday, April 20th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 19th. This represents a $3.20 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s payout ratio is 26.08%.
Lowe’s Companies Company Profile (Get Rating)
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.
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