Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Equities research analysts at Jefferies Financial Group lowered their FY2023 earnings per share (EPS) estimates for Lowe’s Companies in a report released on Wednesday, May 18th. Jefferies Financial Group analyst J. Matuszewski now expects that the home improvement retailer will post earnings per share of $13.40 for the year, down from their previous forecast of $13.50. Jefferies Financial Group has a “Buy” rating and a $238.00 price target on the stock. Jefferies Financial Group also issued estimates for Lowe’s Companies’ FY2024 earnings at $14.65 EPS.
Several other equities analysts have also recently issued reports on the company. Truist Financial decreased their price objective on Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating for the company in a research note on Thursday. Guggenheim dropped their price objective on shares of Lowe’s Companies to $240.00 in a research report on Friday. Wedbush decreased their price objective on shares of Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday. Gordon Haskett lowered Lowe’s Companies from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. Finally, UBS Group lowered their price objective on Lowe’s Companies from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $243.84.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.29. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The firm had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $23.72 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cornerstone Advisory LLC raised its position in Lowe’s Companies by 15.1% in the first quarter. Cornerstone Advisory LLC now owns 2,515 shares of the home improvement retailer’s stock worth $509,000 after acquiring an additional 330 shares in the last quarter. Toroso Investments LLC lifted its stake in shares of Lowe’s Companies by 34.3% in the first quarter. Toroso Investments LLC now owns 32,046 shares of the home improvement retailer’s stock valued at $6,479,000 after purchasing an additional 8,180 shares during the period. Stack Financial Management Inc grew its position in Lowe’s Companies by 0.3% during the first quarter. Stack Financial Management Inc now owns 152,691 shares of the home improvement retailer’s stock worth $30,873,000 after buying an additional 449 shares during the period. Simplicity Wealth LLC purchased a new position in Lowe’s Companies in the first quarter valued at about $1,021,000. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Lowe’s Companies by 2.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,558 shares of the home improvement retailer’s stock valued at $470,000 after acquiring an additional 58 shares during the period. 75.46% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Shareholders 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 yield of 1.73%. 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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