Lowe’s Companies (NYSE:LOW) Shares Down 0.7%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $243.01 and last traded at $243.66. Approximately 249,666 shares changed hands during trading, a decline of 90% from the average daily volume of 2,508,672 shares. The stock had previously closed at $245.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Bank of America reduced their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Truist Financial upped their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. DA Davidson cut their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Finally, Gordon Haskett reduced their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Price Performance

The company has a 50 day simple moving average of $236.06 and a 200-day simple moving average of $233.98. The stock has a market cap of $139.11 billion, a P/E ratio of 19.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.88%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Institutional Trading of Lowe’s Companies

Several hedge funds have recently added to or reduced their stakes in the business. Tidemark LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. Stephens Consulting LLC boosted its stake in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Finally, Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. 74.06% of the stock is owned by institutional investors.

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.