Lowe’s Companies’ (LOW) Neutral Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Lowe’s Companies (NYSE:LOW) in a research report report published on Wednesday, Marketbeat reports. The firm currently has a $270.00 target price on the home improvement retailer’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Lowe’s Companies from $199.00 to $236.00 and gave the company a neutral rating in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on shares of Lowe’s Companies from $238.00 to $262.00 and gave the company a buy rating in a report on Tuesday, February 13th. Truist Financial upped their price target on shares of Lowe’s Companies from $244.00 to $258.00 and gave the company a buy rating in a report on Wednesday, February 28th. Telsey Advisory Group restated a market perform rating and issued a $215.00 target price on shares of Lowe’s Companies in a report on Friday, February 23rd. Finally, Mizuho initiated coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a buy rating and a $280.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $251.60.

Lowe’s Companies Stock Up 0.6 %

Shares of Lowe’s Companies stock opened at $254.73 on Wednesday. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market cap of $145.75 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.87 and a beta of 1.13. The business has a 50-day moving average price of $232.91 and a 200-day moving average price of $216.26.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. Lowe’s Companies’s revenue was down 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.28 earnings per share. On average, equities analysts expect that Lowe’s Companies will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Lowe’s Companies by 1.5% in the second quarter. State Street Corp now owns 25,223,923 shares of the home improvement retailer’s stock valued at $5,693,039,000 after acquiring an additional 374,457 shares during the period. Morgan Stanley increased its stake in Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after acquiring an additional 2,050,089 shares during the period. Norges Bank bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $1,638,746,000. Northern Trust Corp grew its holdings in shares of Lowe’s Companies by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after purchasing an additional 78,901 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Lowe’s Companies by 27.6% during the fourth quarter. Legal & General Group Plc now owns 5,209,241 shares of the home improvement retailer’s stock valued at $1,159,315,000 after purchasing an additional 1,127,790 shares during the period. 74.06% of the stock is currently 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.