Lowe’s Companies, Inc. (NYSE:LOW – Free Report) – Research analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Lowe’s Companies in a research report issued on Tuesday, September 5th. Zacks Research analyst S. Singh now forecasts that the home improvement retailer will earn $3.12 per share for the quarter, down from their prior forecast of $3.14. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.45 per share. Zacks Research also issued estimates for Lowe’s Companies’ Q4 2024 earnings at $1.98 EPS, FY2024 earnings at $13.33 EPS, Q1 2025 earnings at $3.77 EPS, Q2 2025 earnings at $4.80 EPS, Q3 2025 earnings at $3.48 EPS, FY2025 earnings at $14.22 EPS, Q1 2026 earnings at $4.17 EPS, Q2 2026 earnings at $5.40 EPS and FY2026 earnings at $15.88 EPS.
A number of other equities research analysts also recently commented on LOW. UBS Group lifted their price objective on Lowe’s Companies from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 target price (up previously from $225.00) on shares of Lowe’s Companies in a report on Tuesday, August 22nd. Wells Fargo & Company lifted their target price on Lowe’s Companies from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, August 23rd. Wedbush reiterated a “neutral” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 23rd. Finally, The Goldman Sachs Group reduced their target price on Lowe’s Companies from $260.00 to $252.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $236.50.
Lowe’s Companies Stock Down 0.4 %
Shares of NYSE:LOW opened at $229.61 on Wednesday. The company has a market cap of $132.51 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.51 and a beta of 1.09. Lowe’s Companies has a 52 week low of $176.50 and a 52 week high of $237.21. The business has a fifty day simple moving average of $227.13 and a 200-day simple moving average of $212.32.
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.67 earnings per share.
Lowe’s Companies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is 43.31%.
Insider Transactions at Lowe’s Companies
In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the sale, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the completion of the sale, the executive vice president now directly owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the sale, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Hedge Funds Weigh In On Lowe’s Companies
Several institutional investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Lowe’s Companies by 1.5% during the second quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after purchasing an additional 374,457 shares during the last quarter. Morgan Stanley grew its holdings in shares of Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lowe’s Companies by 1.2% during the second quarter. Geode Capital Management LLC now owns 10,992,637 shares of the home improvement retailer’s stock valued at $2,474,841,000 after purchasing an additional 135,510 shares during the last quarter. Norges Bank acquired a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $1,461,267,000. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after buying an additional 5,075,327 shares during the period. 71.88% of the stock is owned by institutional investors.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also 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, and electrical.
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