Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Equities research analysts at Telsey Advisory Group cut their Q2 2023 earnings per share estimates for shares of Lowe’s Companies in a research report issued to clients and investors on Thursday, May 19th. Telsey Advisory Group analyst J. Feldman now anticipates that the home improvement retailer will post earnings of $4.76 per share for the quarter, down from their previous forecast of $4.94. Telsey Advisory Group has a “Outperform” rating and a $285.00 price objective on the stock. Telsey Advisory Group also issued estimates for Lowe’s Companies’ Q3 2023 earnings at $3.06 EPS, Q4 2023 earnings at $2.20 EPS, Q1 2024 earnings at $3.96 EPS, Q2 2024 earnings at $5.25 EPS, Q3 2024 earnings at $3.49 EPS, Q4 2024 earnings at $2.34 EPS and FY2024 earnings at $15.09 EPS.
Several other analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. OTR Global downgraded Lowe’s Companies to a “positive” rating in a research note on Tuesday, May 10th. Gordon Haskett downgraded Lowe’s Companies from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. DA Davidson dropped their price objective on Lowe’s Companies from $292.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Evercore ISI initiated coverage on Lowe’s Companies in a research note on Tuesday, February 15th. They issued 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 assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $246.65.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.29. The firm had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $23.72 billion. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.21 EPS.
A number of institutional investors have recently made changes to their positions in the stock. ADAMCAPITAL Gestao de Recursos Ltda. lifted its stake in Lowe’s Companies by 19.4% in the 1st quarter. ADAMCAPITAL Gestao de Recursos Ltda. now owns 47,637 shares of the home improvement retailer’s stock worth $9,632,000 after acquiring an additional 7,731 shares in the last quarter. Capital Group Private Client Services Inc. lifted its stake in Lowe’s Companies by 1.3% in the 1st quarter. Capital Group Private Client Services Inc. now owns 91,536 shares of the home improvement retailer’s stock worth $18,508,000 after acquiring an additional 1,142 shares in the last quarter. Golden State Equity Partners lifted its stake in Lowe’s Companies by 9.7% in the 1st quarter. Golden State Equity Partners now owns 2,703 shares of the home improvement retailer’s stock worth $547,000 after acquiring an additional 240 shares in the last quarter. Baader Bank INC purchased a new stake in Lowe’s Companies in the 1st quarter worth about $1,011,000. Finally, Range Financial Group LLC purchased a new stake in Lowe’s Companies in the 1st quarter worth about $1,319,000. 75.46% of the stock is owned by hedge funds and other institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Investors of record on Wednesday, April 20th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, April 19th. Lowe’s Companies’s dividend payout ratio is currently 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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