Vetr cut shares of Lowe’s Cos. (NYSE:LOW) from a strong-buy rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $76.30 target price on the home improvement retailer’s stock.
A number of other equities analysts have also weighed in on LOW. Morgan Stanley reiterated an overweight rating on shares of Lowe’s Cos. in a research note on Wednesday, June 29th. Peel Hunt reiterated a buy rating and set a $85.00 price objective on shares of Lowe’s Cos. in a research note on Wednesday, July 6th. Goldman Sachs Group Inc. reiterated a buy rating on shares of Lowe’s Cos. in a research note on Wednesday, July 6th. Stifel Nicolaus initiated coverage on Lowe’s Cos. in a research note on Tuesday, August 2nd. They set a buy rating and a $100.00 price objective for the company. Finally, Cantor Fitzgerald restated a hold rating and issued a $70.00 price target on shares of Lowe’s Cos. in a research note on Thursday, August 4th. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Lowe’s Cos. currently has a consensus rating of Buy and an average price target of $85.00.
Lowe’s Cos. (NYSE:LOW) opened at 70.24 on Tuesday. The company has a market cap of $61.44 billion, a price-to-earnings ratio of 22.77 and a beta of 1.13. The stock has a 50 day moving average price of $72.40 and a 200-day moving average price of $77.03. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65.
Lowe’s Cos. (NYSE:LOW) last issued its earnings results 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. The firm earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. On average, equities research analysts forecast that Lowe’s Cos. will post $4.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.
Hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. North Star Investment Management Corp. boosted its position in Lowe’s Cos. by 20.0% in the third quarter. North Star Investment Management Corp. now owns 1,380 shares of the home improvement retailer’s stock valued at $100,000 after buying an additional 230 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Lowe’s Cos. during the second quarter valued at approximately $103,000. Hanson McClain Inc. boosted its position in Lowe’s Cos. by 17.5% in the second quarter. Hanson McClain Inc. now owns 1,328 shares of the home improvement retailer’s stock valued at $105,000 after buying an additional 198 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Lowe’s Cos. during the second quarter valued at approximately $110,000. 75.45% of the stock is owned by institutional investors and hedge funds.
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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