Lowe's Companies, Inc. (NYSE:LOW) – Investment analysts at Wedbush increased their FY2020 earnings estimates for Lowe's Companies in a report issued on Thursday. Wedbush analyst S. Basham now expects that the home improvement retailer will earn $6.34 per share for the year, up from their prior estimate of $5.70.
Other equities research analysts have also recently issued reports about the company. Atlantic Securities cut Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price for the company. in a research note on Tuesday, November 28th. Credit Suisse Group set a $116.00 target price on Lowe's Companies and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies restated a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a research note on Friday, November 24th. Stifel Nicolaus restated a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a research note on Friday, December 22nd. Finally, Zelman & Associates cut Lowe's Companies from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the stock. Lowe's Companies has a consensus rating of “Buy” and a consensus target price of $96.35.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Lowe's Companies in the second quarter valued at $233,000. Almanack Investment Partners LLC. acquired a new stake in Lowe's Companies in the fourth quarter valued at $106,000. Stonehearth Capital Management LLC acquired a new stake in Lowe's Companies in the fourth quarter valued at $112,000. Atlantic Trust LLC acquired a new stake in Lowe's Companies in the second quarter valued at $105,000. Finally, IHT Wealth Management LLC increased its holdings in Lowe's Companies by 8.7% in the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 73.78% of the company’s stock.
In related news, insider Nelson B. Peace sold 3,352 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares in the company, valued at $372,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
Lowe's Companies announced that its Board of Directors has authorized a share buyback program on Friday, January 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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Lowe's Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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