Brokerages forecast that Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) will post $23.78 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Lowe’s Companies’ earnings, with the highest sales estimate coming in at $24.69 billion and the lowest estimate coming in at $22.47 billion. Lowe’s Companies reported sales of $24.42 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Lowe’s Companies will report full-year sales of $97.87 billion for the current financial year, with estimates ranging from $96.40 billion to $98.66 billion. For the next fiscal year, analysts forecast that the business will report sales of $100.12 billion, with estimates ranging from $97.18 billion to $101.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Lowe’s Companies.
Lowe’s Companies (NYSE:LOW – Get Rating) last posted its earnings results on Wednesday, February 23rd. The home improvement retailer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Lowe’s Companies had a negative return on equity of 551.52% and a net margin of 8.77%. The company had revenue of $21.34 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same quarter last year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday. Gordon Haskett lowered Lowe’s Companies from a “buy” rating to an “accumulate” rating in a report on Friday. Wells Fargo & Company dropped their price target on Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, April 7th. Loop Capital dropped their price target on Lowe’s Companies from $240.00 to $190.00 in a report on Tuesday, April 12th. Finally, Citigroup lifted their price target on Lowe’s Companies from $270.00 to $292.00 and gave the stock a “buy” rating in a report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $260.80.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Carlson Capital Management purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at $303,000. Aries Wealth Management grew its position in shares of Lowe’s Companies by 573.5% in the fourth quarter. Aries Wealth Management now owns 33,474 shares of the home improvement retailer’s stock valued at $8,652,000 after purchasing an additional 28,504 shares in the last quarter. Essex Financial Services Inc. grew its position in shares of Lowe’s Companies by 56.5% in the third quarter. Essex Financial Services Inc. now owns 4,949 shares of the home improvement retailer’s stock valued at $1,004,000 after purchasing an additional 1,786 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Lowe’s Companies by 0.6% during the fourth quarter. Pinnacle Associates Ltd. now owns 40,078 shares of the home improvement retailer’s stock worth $10,359,000 after buying an additional 249 shares in the last quarter. Finally, Connecticut Wealth Management LLC purchased a new position in Lowe’s Companies during the fourth quarter worth about $245,000. Institutional investors own 75.46% of the company’s stock.
LOW stock opened at $192.29 on Monday. Lowe’s Companies has a twelve month low of $182.08 and a twelve month high of $263.31. The stock’s 50 day moving average is $212.40 and its 200-day moving average is $230.56. The firm has a market capitalization of $127.13 billion, a PE ratio of 16.06, a P/E/G ratio of 1.17 and a beta of 1.25.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Wednesday, April 20th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Tuesday, April 19th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 26.73%.
Lowe’s Companies Company Profile (Get Rating)
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.
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