Several other research firms have also recently issued reports on LOW. Morgan Stanley reissued an overweight rating on shares of Lowe’s Cos. in a research note on Wednesday, June 29th. Vetr raised Lowe’s Cos. from a buy rating to a strong-buy rating and set a $86.38 target price on the stock in a research note on Monday, June 27th. Jefferies Group reissued a hold rating on shares of Lowe’s Cos. in a research note on Monday, September 12th. Deutsche Bank AG reissued a buy rating and issued a $86.00 target price on shares of Lowe’s Cos. in a research note on Thursday, June 16th. Finally, Oppenheimer Holdings Inc. reissued an outperform rating and issued a $94.00 target price on shares of Lowe’s Cos. in a research note on Monday, August 29th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Lowe’s Cos. presently has an average rating of Buy and a consensus target price of $85.93.
Lowe’s Cos. (NYSE:LOW) opened at 71.50 on Friday. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65. The company’s 50-day moving average price is $75.58 and its 200-day moving average price is $77.42. The firm has a market capitalization of $62.54 billion, a P/E ratio of 23.18 and a beta of 1.07.
Lowe’s Cos. (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The company had revenue of $18.26 billion for the quarter, compared to the consensus estimate of $18.42 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that Lowe’s Cos. will post $4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Lowe’s Cos. during the second quarter valued at $284,442,000. Emerald Acquisition Ltd. purchased a new position in shares of Lowe’s Cos. during the second quarter valued at $162,367,000. Wellington Management Group LLP increased its position in shares of Lowe’s Cos. by 6.9% in the first quarter. Wellington Management Group LLP now owns 28,620,388 shares of the home improvement retailer’s stock valued at $2,167,994,000 after buying an additional 1,841,494 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Lowe’s Cos. by 3,223.7% in the first quarter. Bessemer Group Inc. now owns 1,558,708 shares of the home improvement retailer’s stock valued at $118,071,000 after buying an additional 1,511,811 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock valued at $1,042,084,000 after buying an additional 1,280,426 shares in the last quarter. 75.48% of the stock is owned by institutional investors.
About Lowe’s Cos.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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