Brokerages Anticipate Lowe’s Companies, Inc. (LOW) Will Post Quarterly Sales of $19.51 Billion

Wall Street analysts expect that Lowe’s Companies, Inc. (NYSE:LOW) will report sales of $19.51 billion for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Lowe’s Companies’ earnings, with estimates ranging from $19.23 billion to $19.68 billion. Lowe’s Companies posted sales of $18.26 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, August 23rd.

According to Zacks, analysts expect that Lowe’s Companies will report full-year sales of $19.51 billion for the current fiscal year, with estimates ranging from $67.39 billion to $68.97 billion. For the next fiscal year, analysts expect that the company will report sales of $70.91 billion per share, with estimates ranging from $69.77 billion to $71.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Lowe’s Companies.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The firm had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share.

Several research firms have recently commented on LOW. Oppenheimer Holdings, Inc. set a $100.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Wolfe Research reiterated an “outperform” rating and issued a $94.00 price objective (down from $95.00) on shares of Lowe’s Companies in a research note on Sunday, May 28th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $69.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, July 12th. BidaskClub upgraded Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Vetr cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective on the stock. in a research note on Monday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.39.

In other news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the completion of the sale, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after buying an additional 5,380,759 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after buying an additional 2,650,045 shares in the last quarter. Glenview Capital Management LLC increased its position in shares of Lowe’s Companies by 33.8% in the first quarter. Glenview Capital Management LLC now owns 5,452,659 shares of the home improvement retailer’s stock valued at $448,263,000 after buying an additional 1,376,540 shares in the last quarter. Finally, Scopus Asset Management L.P. increased its position in shares of Lowe’s Companies by 866.7% in the first quarter. Scopus Asset Management L.P. now owns 1,450,000 shares of the home improvement retailer’s stock valued at $119,205,000 after buying an additional 1,300,000 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Shares of Lowe’s Companies (LOW) opened at 78.34 on Thursday. Lowe’s Companies has a 12 month low of $64.87 and a 12 month high of $86.25. The company has a market capitalization of $66.14 billion, a price-to-earnings ratio of 24.57 and a beta of 1.08. The firm’s 50-day moving average price is $76.78 and its 200-day moving average price is $79.39. Lowe’s Companies also was the target of unusually large options trading on Monday. Stock traders bought 6,466 put options on the stock. This represents an increase of 538% compared to the average daily volume of 1,014 put options.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 51.57%.

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About Lowe’s Companies

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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Earnings History and Estimates for Lowe`s Companies (NYSE:LOW)

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