Lowe’s Companies, Inc. (NYSE:LOW) – Wedbush reduced their Q2 2020 earnings estimates for shares of Lowe’s Companies in a note issued to investors on Thursday, May 23rd, according to Zacks Investment Research. Wedbush analyst S. Basham now forecasts that the home improvement retailer will earn $2.04 per share for the quarter, down from their prior forecast of $2.23. Wedbush currently has a “Neutral” rating and a $105.00 target price on the stock. Wedbush also issued estimates for Lowe’s Companies’ Q3 2020 earnings at $1.40 EPS, Q4 2020 earnings at $0.88 EPS, FY2020 earnings at $5.54 EPS, Q1 2021 earnings at $1.36 EPS, Q2 2021 earnings at $2.29 EPS, Q3 2021 earnings at $1.59 EPS and Q4 2021 earnings at $1.03 EPS.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). The business had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share.
A number of other analysts have also commented on LOW. Loop Capital boosted their price target on Lowe’s Companies from $99.00 to $102.00 and gave the company a “hold” rating in a report on Wednesday, February 27th. Robert W. Baird boosted their price target on Lowe’s Companies from $120.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. ValuEngine upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Morgan Stanley boosted their price target on Lowe’s Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 28th. Finally, KeyCorp boosted their price target on Lowe’s Companies from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 28th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $113.13.
Shares of Lowe’s Companies stock traded down $0.58 during trading on Monday, reaching $98.73. The stock had a trading volume of 5,543,677 shares, compared to its average volume of 4,837,449. The firm has a market cap of $77.52 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. Lowe’s Companies has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Preferred LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $26,000. Icon Wealth Partners LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $26,000. Clarfeld Financial Advisors LLC acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $26,000. Weaver Consulting Group acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $28,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $33,000. 76.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Lowe’s Companies news, insider Marvin R. Ellison purchased 10,000 shares of the stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $95.05 per share, with a total value of $950,500.00. Following the completion of the transaction, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s payout ratio is 37.35%.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.