Wedbush Equities Analysts Increase Earnings Estimates for Lowe’s Companies, Inc. (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Investment analysts at Wedbush boosted their Q2 2023 earnings per share (EPS) estimates for Lowe’s Companies in a note issued to investors on Thursday, May 19th. Wedbush analyst S. Basham now forecasts that the home improvement retailer will earn $4.64 per share for the quarter, up from their previous forecast of $4.53. Wedbush currently has a “Neutral” rating and a $200.00 target price on the stock. Wedbush also issued estimates for Lowe’s Companies’ Q4 2024 earnings at $2.19 EPS.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.29. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $23.72 billion. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. Lowe’s Companies’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 EPS.

Several other brokerages also recently weighed in on LOW. Guggenheim dropped their target price on shares of Lowe’s Companies to $240.00 in a report on Friday. OTR Global downgraded shares of Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Wells Fargo & Company dropped their price objective on shares of Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating for the company in a report on Thursday, April 7th. Gordon Haskett downgraded shares of Lowe’s Companies from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. Finally, Evercore ISI initiated coverage on shares of Lowe’s Companies in a report on Tuesday, February 15th. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $243.84.

Shares of Lowe’s Companies stock opened at $184.69 on Monday. The company has a market capitalization of $122.10 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.11 and a beta of 1.25. The company has a fifty day moving average of $205.64 and a 200 day moving average of $227.61. Lowe’s Companies has a fifty-two week low of $179.22 and a fifty-two week high of $263.31.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Investors of record on Wednesday, April 20th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, April 19th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 26.08%.

Institutional investors have recently bought and sold shares of the stock. Pacifica Partners Inc. purchased a new stake in Lowe’s Companies in the 4th quarter worth about $25,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Lowe’s Companies during the first quarter worth approximately $27,000. Bell Investment Advisors Inc purchased a new position in shares of Lowe’s Companies during the third quarter worth approximately $32,000. Macroview Investment Management LLC increased its position in shares of Lowe’s Companies by 49.1% during the first quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 52 shares during the period. Finally, O Dell Group LLC purchased a new position in shares of Lowe’s Companies during the first quarter worth approximately $34,000. 75.46% of the stock is currently owned by institutional investors.

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.

Further Reading

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

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