Lowe’s Companies (NYSE:LOW – Get Rating) updated its FY 2022 earnings guidance on Sunday. The company provided EPS guidance of $13.65-$13.80 for the period, compared to the consensus EPS estimate of $13.76. The company issued revenue guidance of $97.00 billion-$98.00 billion, compared to the consensus revenue estimate of $97.41 billion.
A number of brokerages have issued reports on LOW. Telsey Advisory Group reduced their price objective on Lowe’s Companies to $250.00 in a research note on Monday, December 12th. Wedbush upped their price target on Lowe’s Companies from $190.00 to $200.00 and gave the company a neutral rating in a research report on Thursday, December 8th. Oppenheimer reaffirmed an outperform rating and set a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, November 17th. Robert W. Baird upped their price target on Lowe’s Companies from $230.00 to $250.00 in a research report on Thursday, November 17th. Finally, Evercore ISI dropped their price target on Lowe’s Companies to $225.00 in a research report on Monday, December 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of Moderate Buy and a consensus price target of $231.79.
NYSE:LOW opened at $206.14 on Friday. The company has a market capitalization of $127.95 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.11 and a beta of 1.16. Lowe’s Companies has a 12 month low of $170.12 and a 12 month high of $260.83. The business’s 50-day moving average is $200.09 and its 200 day moving average is $194.74.
Lowe’s Companies (NYSE:LOW – Get Rating) last posted its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The company had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. Lowe’s Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 earnings per share. On average, research analysts forecast that Lowe’s Companies will post 13.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be given a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio is currently 41.14%.
In related news, EVP Ross W. Mccanless sold 57,629 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $211.35, for a total value of $12,179,889.15. Following the sale, the executive vice president now directly owns 26,923 shares in the company, valued at $5,690,176.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Renaissance Technologies LLC raised its position in Lowe’s Companies by 7,952.8% during the first quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock valued at $320,754,000 after purchasing an additional 1,566,700 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Lowe’s Companies by 2,072.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock valued at $218,055,000 after purchasing an additional 1,028,827 shares during the period. First Trust Advisors LP raised its position in Lowe’s Companies by 209.0% during the first quarter. First Trust Advisors LP now owns 1,219,542 shares of the home improvement retailer’s stock valued at $246,579,000 after purchasing an additional 824,915 shares during the period. Alyeska Investment Group L.P. raised its position in Lowe’s Companies by 37.4% during the first quarter. Alyeska Investment Group L.P. now owns 132,923 shares of the home improvement retailer’s stock valued at $26,876,000 after purchasing an additional 36,171 shares during the period. Finally, Private Advisory Group LLC purchased a new stake in Lowe’s Companies during the first quarter valued at approximately $6,709,000. 74.04% of the stock is currently owned by hedge funds and other institutional investors.
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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