Lowe’s Companies (NYSE:LOW) Announces Quarterly Earnings Results

Lowe’s Companies (NYSE:LOWGet Rating) announced its quarterly earnings data on Wednesday. The home improvement retailer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.18, RTT News reports. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The business had revenue of $23.48 billion during the quarter, compared to the consensus estimate of $23.16 billion. During the same quarter in the previous year, the business earned $2.73 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Lowe’s Companies updated its FY23 guidance to $13.65-13.80 EPS.

Lowe’s Companies Trading Up 2.0 %

Lowe’s Companies stock opened at $208.84 on Wednesday. The firm’s fifty day moving average price is $193.24 and its two-hundred day moving average price is $192.19. The firm has a market capitalization of $129.63 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.15. Lowe’s Companies has a 1-year low of $170.12 and a 1-year high of $263.31.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, January 24th. Lowe’s Companies’s dividend payout ratio is presently 33.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. TheStreet upgraded Lowe’s Companies from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Truist Financial upped their target price on Lowe’s Companies from $237.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, August 18th. MKM Partners reduced their price objective on Lowe’s Companies from $220.00 to $205.00 in a research report on Wednesday, November 9th. BNP Paribas downgraded Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 target price for the company. in a research report on Wednesday, October 19th. Finally, Jefferies Financial Group upped their target price on Lowe’s Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $231.78.

Insider Activity

In other news, EVP Seemantini Godbole sold 11,761 shares of Lowe’s Companies stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $214.37, for a total value of $2,521,205.57. Following the completion of the transaction, the executive vice president now owns 26,575 shares in the company, valued at $5,696,882.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently modified their holdings of the company. Covestor Ltd lifted its position in Lowe’s Companies by 74.6% during the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after purchasing an additional 126 shares during the last quarter. Worth Asset Management LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at $63,000. Atlas Capital Advisors LLC increased its position in Lowe’s Companies by 14.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 544 shares of the home improvement retailer’s stock valued at $95,000 after purchasing an additional 68 shares during the period. First Western Trust Bank bought a new stake in shares of Lowe’s Companies during the 1st quarter valued at $214,000. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in shares of Lowe’s Companies by 31.5% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 1,161 shares of the home improvement retailer’s stock valued at $223,000 after buying an additional 278 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors.

About Lowe’s Companies

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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.

Further Reading

Earnings History for Lowe's Companies (NYSE:LOW)

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