Lowe’s Companies (LOW) to Release Quarterly Earnings on Wednesday

Lowe’s Companies (NYSE:LOWGet Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, November 16th. Analysts expect the company to announce earnings of $3.10 per share for the quarter. Lowe’s Companies has set its FY23 guidance at $13.10-13.60 EPS and its FY 2022 guidance at $13.10-$13.60 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.04. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The business had revenue of $27.48 billion during the quarter, compared to analysts’ expectations of $28.16 billion. During the same quarter in the prior year, the firm earned $4.25 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect Lowe’s Companies to post $14 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Lowe’s Companies Trading Up 2.3 %

Shares of LOW stock opened at $209.02 on Monday. The business’s 50-day moving average price is $192.74 and its 200-day moving average price is $192.12. Lowe’s Companies has a 12 month low of $170.12 and a 12 month high of $263.31. The firm has a market capitalization of $129.74 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.15 and a beta of 1.15.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.01%. Lowe’s Companies’s payout ratio is 33.10%.

Wall Street Analyst Weigh In

LOW has been the subject of several analyst reports. Exane BNP Paribas downgraded shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price target for the company. in a research note on Wednesday, October 19th. Morgan Stanley cut their target price on Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. The Goldman Sachs Group decreased their price target on Lowe’s Companies from $252.00 to $226.00 and set a “buy” rating for the company in a research note on Tuesday, November 8th. JPMorgan Chase & Co. cut their price objective on Lowe’s Companies from $235.00 to $205.00 in a research note on Friday. Finally, Jefferies Financial Group raised their price target on shares of Lowe’s Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, October 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $231.78.

Insider Activity at Lowe’s Companies

In related news, EVP Seemantini Godbole sold 11,761 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $214.37, for a total value of $2,521,205.57. Following the completion of the sale, the executive vice president now owns 26,575 shares in the company, valued at approximately $5,696,882.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in shares of Lowe’s Companies by 74.6% during the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after purchasing an additional 126 shares during the period. Worth Asset Management LLC purchased a new stake in Lowe’s Companies during the 1st quarter valued at $63,000. Atlas Capital Advisors LLC grew its holdings in Lowe’s Companies by 14.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 544 shares of the home improvement retailer’s stock worth $95,000 after acquiring an additional 68 shares during the last quarter. First Western Trust Bank purchased a new position in shares of Lowe’s Companies in the first quarter valued at about $214,000. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of Lowe’s Companies by 31.5% during the first quarter. Jaffetilchin Investment Partners LLC now owns 1,161 shares of the home improvement retailer’s stock valued at $223,000 after acquiring an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

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 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 for Lowe's Companies (NYSE:LOW)

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