Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, June 2nd, RTT News reports. Shareholders of record on Wednesday, July 26th will be given a dividend of 0.41 per share by the home improvement retailer on Wednesday, August 9th. This represents a $1.64 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, July 24th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35.
Lowe’s Companies has raised its dividend payment by an average of 22.8% annually over the last three years and has increased its dividend annually for the last 54 consecutive years. Lowe’s Companies has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $5.24 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 31.3%.
Lowe’s Companies (NYSE:LOW) opened at 75.96 on Wednesday. Lowe’s Companies has a 12-month low of $64.87 and a 12-month high of $86.25. The firm has a 50-day moving average of $78.10 and a 200-day moving average of $78.96. The stock has a market cap of $64.13 billion, a PE ratio of 23.82 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. During the same quarter last year, the business posted $0.87 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Lowe’s Companies will post $4.62 earnings per share for the current fiscal year.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
Several analysts have recently commented on LOW shares. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 target price on shares of Lowe’s Companies in a research note on Monday, April 3rd. Vetr cut shares of Lowe’s Companies from a “sell” rating to a “strong sell” rating and set a $72.25 price objective for the company. in a research note on Monday, April 3rd. Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Tuesday, April 18th. Credit Suisse Group set a $94.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $89.00 price objective on shares of Lowe’s Companies in a research note on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $85.39.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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