Jefferies Group LLC reiterated their hold rating on shares of Lowe’s Companies, Inc. (NYSE:LOW) in a research note issued to investors on Friday. Jefferies Group LLC currently has a $89.00 target price on the home improvement retailer’s stock.
A number of other brokerages have also recently weighed in on LOW. Vetr cut shares of Lowe’s Companies from a hold rating to a sell rating and set a $83.11 price target for the company. in a research report on Monday, May 8th. BMO Capital Markets reaffirmed a buy rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Friday, May 5th. Credit Suisse Group set a $94.00 price target on shares of Lowe’s Companies and gave the stock a buy rating in a research report on Tuesday, May 2nd. Zacks Investment Research cut shares of Lowe’s Companies from a buy rating to a hold rating in a research report on Wednesday, May 3rd. Finally, BTIG Research reaffirmed a buy rating and set a $95.00 price target (up from $90.00) on shares of Lowe’s Companies in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $85.39.
Lowe’s Companies (NYSE LOW) opened at 73.84 on Friday. The stock has a market capitalization of $62.34 billion, a price-to-earnings ratio of 23.15 and a beta of 1.08. The company has a 50-day moving average price of $77.85 and a 200-day moving average price of $78.90. Lowe’s Companies has a 12-month low of $64.87 and a 12-month high of $86.25.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. During the same period last year, the company posted $0.87 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies will post $4.62 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be paid a dividend of $0.41 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.64 annualized dividend and a yield of 2.22%. Lowe’s Companies’s dividend payout ratio is 44.03%.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now owns 37,716 shares in the company, valued at $3,024,823.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in LOW. Rosenbaum Jay D. raised its stake in Lowe’s Companies by 13.6% in the second quarter. Rosenbaum Jay D. now owns 3,975 shares of the home improvement retailer’s stock valued at $308,000 after buying an additional 475 shares during the period. Duncker Streett & Co. Inc. raised its stake in Lowe’s Companies by 1.3% in the second quarter. Duncker Streett & Co. Inc. now owns 16,633 shares of the home improvement retailer’s stock valued at $1,290,000 after buying an additional 209 shares during the period. Delta Asset Management LLC TN raised its stake in Lowe’s Companies by 0.4% in the second quarter. Delta Asset Management LLC TN now owns 327,329 shares of the home improvement retailer’s stock valued at $25,377,000 after buying an additional 1,348 shares during the period. Bridges Investment Counsel Inc. raised its stake in Lowe’s Companies by 73.7% in the second quarter. Bridges Investment Counsel Inc. now owns 27,795 shares of the home improvement retailer’s stock valued at $2,155,000 after buying an additional 11,792 shares during the period. Finally, Bridges Investment Management Inc. raised its stake in Lowe’s Companies by 0.6% in the second quarter. Bridges Investment Management Inc. now owns 35,350 shares of the home improvement retailer’s stock valued at $2,740,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Lowe’s Companies Company Profile
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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