Royal Bank of Canada Reaffirms “Sector Perform” Rating for Lowe’s Companies (NYSE:LOW)

Royal Bank of Canada reissued their sector perform rating on shares of Lowe’s Companies (NYSE:LOW) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $246.00 price target on the home improvement retailer’s stock.

Several other research firms have also recently weighed in on LOW. Gordon Haskett reissued a hold rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Mizuho assumed coverage on Lowe’s Companies in a research note on Tuesday, March 19th. They set a buy rating and a $280.00 target price on the stock. Evercore ISI reduced their price target on Lowe’s Companies from $255.00 to $250.00 and set an in-line rating for the company in a research note on Wednesday. Telsey Advisory Group reissued a market perform rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $235.00 to $250.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of Hold and an average price target of $251.33.

Lowe’s Companies Stock Down 1.0 %

Shares of NYSE LOW opened at $215.21 on Wednesday. The business’s 50 day moving average price is $236.44 and its two-hundred day moving average price is $224.81. The company has a market cap of $123.14 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.15. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the prior year, the business earned $3.67 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts anticipate that Lowe’s Companies will post 12.22 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were issued a $1.10 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 2.04%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at about $26,000. Tidemark LLC bought a new position in shares of Lowe’s Companies during the fourth quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $28,000. Finally, Transcendent Capital Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. 74.06% 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.