Lowe’s Companies (NYSE:LOW) Issues Earnings Results, Beats Estimates By $0.19 EPS

Lowe’s Companies (NYSE:LOW – Get Rating) issued its quarterly earnings data on Tuesday. The home improvement retailer reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.19, Briefing.com reports. Lowe’s Companies had a negative return on equity of 68.42% and a net margin of 6.65%. The company had revenue of $22.35 billion during the quarter, compared to analyst estimates of $21.68 billion. During the same period in the prior year, the business posted $3.51 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Lowe’s Companies updated its FY24 guidance to $13.20-13.60 EPS.

Lowe’s Companies Stock Up 0.2 %

LOW stock opened at $204.00 on Thursday. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.23 and a beta of 1.09. Lowe’s Companies has a fifty-two week low of $170.12 and a fifty-two week high of $223.31. The business has a 50 day moving average price of $201.89 and a 200 day moving average price of $204.21.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, April 25th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 40.90%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOW. Morgan Stanley reissued an “overweight” rating and set a $235.00 price objective on shares of Lowe’s Companies in a research report on Monday, February 13th. 888 reiterated a “maintains” rating on shares of Lowe’s Companies in a research report on Wednesday, May 17th. StockNews.com initiated coverage on shares of Lowe’s Companies in a report on Thursday, May 18th. They issued a “buy” rating on the stock. DA Davidson lifted their target price on shares of Lowe’s Companies from $228.00 to $237.00 in a report on Wednesday. Finally, Oppenheimer decreased their price target on Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $222.23.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Donald Frieson sold 9,411 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the sale, the executive vice president now owns 17,888 shares in the company, valued at approximately $3,523,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Lowe’s Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Live Oak Investment Partners purchased a new position in Lowe’s Companies during the 4th quarter worth approximately $232,000. Jaffetilchin Investment Partners LLC grew its position in shares of Lowe’s Companies by 31.5% during the first quarter. Jaffetilchin Investment Partners LLC now owns 1,161 shares of the home improvement retailer’s stock worth $223,000 after acquiring an additional 278 shares during the last quarter. Davis Investment Partners LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $222,000. First Western Trust Bank purchased a new stake in Lowe’s Companies in the 1st quarter valued at $214,000. Finally, State of Wyoming boosted its stake in Lowe’s Companies by 31.4% during the 4th quarter. State of Wyoming now owns 971 shares of the home improvement retailer’s stock worth $193,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 72.62% of the company’s stock.

About Lowe’s Companies

(Get Rating)

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.