Shares of Lowe’s Cos. (NYSE:LOW) have been assigned an average rating of “Buy” from the twenty-nine brokerages that are presently covering the stock. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $86.14.
Several analysts recently weighed in on LOW shares. Credit Suisse Group AG set a $80.00 target price on Lowe’s Cos. and gave the company a “buy” rating in a research note on Friday, September 23rd. Robert W. Baird set a $88.00 target price on Lowe’s Cos. and gave the company a “buy” rating in a research note on Monday, September 19th. Morgan Stanley set a $87.00 target price on Lowe’s Cos. and gave the company a “buy” rating in a research note on Friday, August 19th. BMO Capital Markets increased their target price on Lowe’s Cos. from $76.43 to $86.00 and gave the company an “outperform” rating in a research note on Monday, August 22nd. Finally, Bank of America Corp. restated a “buy” rating and set a $87.65 target price (up previously from $77.30) on shares of Lowe’s Cos. in a research note on Wednesday, August 24th.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.69% on Friday, reaching $71.59. The company’s stock had a trading volume of 2,748,733 shares. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65. The stock has a 50-day moving average of $72.97 and a 200 day moving average of $77.13. The stock has a market capitalization of $62.62 billion, a price-to-earnings ratio of 23.21 and a beta of 1.13.
Lowe’s Cos. (NYSE:LOW) last announced its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing the 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 business had revenue of $18.26 billion for the quarter, compared to the consensus estimate of $18.42 billion. During the same quarter in the previous year, the company earned $1.20 EPS. Lowe’s Cos.’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that Lowe’s Cos. will post $4.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a $0.35 dividend. The ex-dividend date is Monday, October 17th. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. Lowe’s Cos.’s dividend payout ratio (DPR) is currently 45.16%.
Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Lowe’s Cos. during the second quarter valued at approximately $284,442,000. Emerald Acquisition Ltd. purchased a new stake in Lowe’s Cos. during the second quarter valued at approximately $162,367,000. Wellington Management Group LLP boosted its stake in 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 during the period. Bessemer Group Inc. boosted its stake in 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 during the period. Finally, Ameriprise Financial Inc. boosted its stake in 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 during the period. 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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