Lowe’s Companies (LOW) Set to Announce Earnings on Tuesday

Lowe’s Companies (NYSE:LOW – Get Rating) will issue its quarterly earnings data before the market opens on Tuesday, May 23rd. Analysts expect the company to announce earnings of $3.54 per share for the quarter. Lowe’s Companies has set its FY 2023 guidance at $13.60-$14.00 EPS and its FY24 guidance at $13.60-$14.00 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its earnings results on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.07. Lowe’s Companies had a negative return on equity of 82.30% and a net margin of 6.63%. The firm had revenue of $22.40 billion for the quarter, compared to the consensus estimate of $22.71 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect Lowe’s Companies to post $14 EPS for the current fiscal year and $15 EPS for the next fiscal year.

Lowe’s Companies Stock Performance

LOW opened at $201.55 on Tuesday. Lowe’s Companies has a one year low of $170.12 and a one year high of $223.31. The stock’s fifty day moving average is $200.93 and its 200-day moving average is $203.53. The company has a market capitalization of $120.20 billion, a PE ratio of 20.13, a P/E/G ratio of 1.18 and a beta of 1.09.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Tuesday, April 25th. Lowe’s Companies’s payout ratio is 41.96%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the sale, the executive vice president now owns 17,888 shares of the company’s stock, valued at $3,523,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently added to or reduced their stakes in LOW. Auxier Asset Management increased its stake in shares of Lowe’s Companies by 11.8% during the 1st quarter. Auxier Asset Management now owns 40,733 shares of the home improvement retailer’s stock worth $8,145,000 after purchasing an additional 4,305 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Lowe’s Companies by 4,489.8% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 201,949 shares of the home improvement retailer’s stock worth $40,384,000 after buying an additional 197,549 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Lowe’s Companies by 35.4% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 6,165 shares of the home improvement retailer’s stock worth $1,233,000 after buying an additional 1,613 shares during the period. Family Legacy Inc. boosted its holdings in Lowe’s Companies by 3.2% in the 1st quarter. Family Legacy Inc. now owns 23,874 shares of the home improvement retailer’s stock worth $4,774,000 after buying an additional 746 shares during the period. Finally, Certified Advisory Corp boosted its holdings in Lowe’s Companies by 24.0% in the 1st quarter. Certified Advisory Corp now owns 1,457 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 282 shares during the period. Institutional investors own 72.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LOW shares. Citigroup lowered their price target on Lowe’s Companies from $215.00 to $210.00 in a report on Friday, March 3rd. Roth Capital reaffirmed a “neutral” rating on shares of Lowe’s Companies in a research report on Wednesday, March 1st. Oppenheimer cut their price objective on Lowe’s Companies from $300.00 to $275.00 in a research report on Tuesday, February 28th. TD Cowen cut their price objective on Lowe’s Companies from $220.00 to $210.00 and set a “market perform” rating for the company in a research report on Thursday, March 2nd. Finally, Telsey Advisory Group lowered their price target on Lowe’s Companies from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $223.46.

Lowe’s Companies Company Profile

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.