Lowe’s Companies (NYSE:LOW) Issues FY 2023 Earnings Guidance

Lowe’s Companies (NYSE:LOW) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $13.00-$13.00 for the period, compared to the consensus estimate of $13.32. The company issued revenue guidance of $86.00 billion-$86.00 billion, compared to the consensus revenue estimate of $87.55 billion.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. HSBC began coverage on Lowe’s Companies in a report on Friday, September 22nd. They set a hold rating and a $250.00 target price for the company. Stifel Nicolaus dropped their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a buy rating on the stock in a report on Monday, November 13th. The Goldman Sachs Group reduced their target price on shares of Lowe’s Companies from $260.00 to $252.00 and set a buy rating for the company in a report on Tuesday, August 22nd. Royal Bank of Canada assumed coverage on shares of Lowe’s Companies in a report on Tuesday, November 7th. They issued a sector perform rating and a $194.00 price target on the stock. Finally, Bank of America increased their price target on Lowe’s Companies from $278.00 to $289.00 and gave the stock a buy rating in a research report on Wednesday, August 23rd. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $242.32.

Lowe’s Companies Trading Up 0.4 %

Shares of Lowe’s Companies stock opened at $204.45 on Tuesday. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $237.21. The firm has a market capitalization of $117.99 billion, a PE ratio of 20.12, a P/E/G ratio of 1.34 and a beta of 1.07. The firm’s 50-day moving average price is $201.37 and its 200 day moving average price is $213.30.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. During the same quarter last year, the business posted $4.67 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Lowe’s Companies will post 13.31 EPS for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the sale, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanctuary Wealth Management L.L.C. acquired a new position in Lowe’s Companies in the fourth quarter valued at approximately $35,000. True Wealth Design LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $42,000. Covestor Ltd grew its holdings in shares of Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock worth $60,000 after purchasing an additional 126 shares during the period. Worth Asset Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $63,000. Finally, GeoWealth Management LLC purchased a new stake in Lowe’s Companies in the 1st quarter valued at about $84,000. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Company Profile

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.