FY2023 EPS Estimates for Lowe’s Companies, Inc. Cut by Jefferies Financial Group (NYSE:LOW)

Posted by on May 23rd, 2022

Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their FY2023 earnings per share estimates for Lowe’s Companies in a research report issued on Wednesday, May 18th. Jefferies Financial Group analyst J. Matuszewski now anticipates that the home improvement retailer will post earnings of $13.40 per share for the year, down from their prior forecast of $13.50. Jefferies Financial Group currently has a “Buy” rating and a $238.00 price target on the stock. Jefferies Financial Group also issued estimates for Lowe’s Companies’ FY2024 earnings at $14.65 EPS.

Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 EPS for the quarter, topping the consensus estimate of $3.22 by $0.29. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The business had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $23.72 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year.

LOW has been the subject of a number of other research reports. Guggenheim cut their price objective on shares of Lowe’s Companies to $240.00 in a report on Friday. Wells Fargo & Company reduced their price target on Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, April 7th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI started coverage on Lowe’s Companies in a research note on Tuesday, February 15th. They set an “outperform” rating on the stock. Finally, OTR Global lowered Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Buy” and a consensus target price of $243.84.

Shares of NYSE LOW opened at $184.69 on Monday. The company has a 50 day simple moving average of $205.64 and a two-hundred day simple moving average of $227.61. The stock has a market cap of $122.10 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.11 and a beta of 1.25. Lowe’s Companies has a 12 month low of $179.22 and a 12 month high of $263.31.

A number of large investors have recently added to or reduced their stakes in the business. Pacifica Partners Inc. acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $25,000. Joseph P. Lucia & Associates LLC purchased a new stake in Lowe’s Companies during the 1st quarter worth approximately $27,000. Bell Investment Advisors Inc bought a new position in Lowe’s Companies during the 3rd quarter valued at $32,000. Macroview Investment Management LLC increased its holdings in Lowe’s Companies by 49.1% in the first quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. Finally, Delos Wealth Advisors LLC increased its holdings in shares of Lowe’s Companies by 388.2% in the 4th quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock valued at $43,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 75.46% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Wednesday, April 20th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, April 19th. This represents a $3.20 annualized dividend and a dividend yield of 1.73%. Lowe’s Companies’s dividend payout ratio is currently 26.08%.

Lowe’s Companies Company Profile (Get Rating)

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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