Brokerages expect that Lowe’s Companies, Inc. (NYSE:LOW) will announce sales of $20.99 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Lowe’s Companies’ earnings. The lowest sales estimate is $20.78 billion and the highest is $21.20 billion. Lowe’s Companies posted sales of $20.89 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.5%. The business is scheduled to report its next earnings results on Wednesday, August 28th.
According to Zacks, analysts expect that Lowe’s Companies will report full-year sales of $72.48 billion for the current financial year, with estimates ranging from $71.98 billion to $72.90 billion. For the next financial year, analysts anticipate that the company will post sales of $74.92 billion, with estimates ranging from $73.96 billion to $75.77 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Lowe’s Companies.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The company had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.65 billion. During the same period last year, the company earned $1.19 earnings per share. Lowe’s Companies’s revenue for the quarter was up 2.2% on a year-over-year basis.
Lowe’s Companies stock traded up $0.51 during mid-day trading on Tuesday, reaching $99.13. The company had a trading volume of 97,423 shares, compared to its average volume of 6,638,811. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. Lowe’s Companies has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a market cap of $75.42 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s dividend payout ratio (DPR) is 37.35%.
In other news, insider Marvin R. Ellison bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares of the company’s stock, valued at approximately $7,612,554.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.07% of the company’s stock.
Several institutional investors have recently made changes to their positions in LOW. Clarfeld Financial Advisors LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at about $26,000. Advisors Preferred LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $26,000. Icon Wealth Partners LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $26,000. Prime Capital Investment Advisors LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $33,000. Finally, Thor Advisors LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
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. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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