Lowe’s Companies, Inc. (LOW) Expected to Post Quarterly Sales of $17.74 Billion

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Wall Street brokerages predict that Lowe’s Companies, Inc. (NYSE:LOW) will post $17.74 billion in sales for the current quarter, Zacks reports. Eleven analysts have issued estimates for Lowe’s Companies’ earnings, with estimates ranging from $17.52 billion to $18.03 billion. Lowe’s Companies reported sales of $17.36 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The company is expected to report its next earnings report on Wednesday, May 22nd.

On average, analysts expect that Lowe’s Companies will report full-year sales of $72.45 billion for the current financial year, with estimates ranging from $71.92 billion to $72.99 billion. For the next financial year, analysts anticipate that the business will post sales of $75.03 billion, with estimates ranging from $73.97 billion to $75.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Lowe’s Companies.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 27th. The home improvement retailer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $15.65 billion for the quarter, compared to the consensus estimate of $15.75 billion. Lowe’s Companies had a return on equity of 80.91% and a net margin of 3.24%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS.

A number of brokerages have recently issued reports on LOW. Morgan Stanley set a $115.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Loop Capital set a $125.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, November 21st. Wedbush upped their price target on Lowe’s Companies from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 28th. Finally, Wells Fargo & Co upped their price target on Lowe’s Companies from $110.00 to $120.00 in a research note on Thursday, February 28th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $113.13.

Several institutional investors have recently modified their holdings of LOW. CI Investments Inc. bought a new position in shares of Lowe’s Companies in the third quarter valued at approximately $59,775,000. Somerset Trust Co grew its holdings in shares of Lowe’s Companies by 2.6% in the fourth quarter. Somerset Trust Co now owns 31,709 shares of the home improvement retailer’s stock valued at $2,929,000 after acquiring an additional 814 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Lowe’s Companies by 24.8% in the fourth quarter. Greatmark Investment Partners Inc. now owns 63,221 shares of the home improvement retailer’s stock valued at $5,839,000 after acquiring an additional 12,550 shares in the last quarter. F3Logic LLC bought a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $2,135,000. Finally, Ironwood Financial llc grew its holdings in shares of Lowe’s Companies by 171.0% in the fourth quarter. Ironwood Financial llc now owns 542 shares of the home improvement retailer’s stock valued at $50,000 after acquiring an additional 342 shares in the last quarter. 74.48% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:LOW traded up $1.71 during midday trading on Tuesday, reaching $103.59. The company’s stock had a trading volume of 341,537 shares, compared to its average volume of 4,802,701. The company has a market capitalization of $80.41 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.16 and a beta of 1.27. The company has a debt-to-equity ratio of 3.95, a current ratio of 0.98 and a quick ratio of 0.11. Lowe’s Companies has a fifty-two week low of $81.16 and a fifty-two week high of $117.70.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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