FY2023 EPS Estimates for Lowe’s Companies, Inc. Lowered by Analyst (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Investment analysts at DA Davidson dropped their FY2023 earnings per share estimates for Lowe’s Companies in a research report issued to clients and investors on Monday, August 1st. DA Davidson analyst M. Baker now forecasts that the home improvement retailer will post earnings per share of $13.35 for the year, down from their prior forecast of $13.41. DA Davidson has a “Buy” rating and a $240.00 price objective on the stock. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.44 per share. DA Davidson also issued estimates for Lowe’s Companies’ FY2024 earnings at $14.98 EPS.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.27. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The firm had revenue of $23.66 billion for the quarter, compared to analyst estimates of $23.72 billion. During the same quarter last year, the company posted $3.21 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Piper Sandler lifted their target price on shares of Lowe’s Companies to $246.00 and gave the stock an “underweight” rating in a research note on Thursday, May 19th. Guggenheim decreased their price target on shares of Lowe’s Companies to $240.00 in a research report on Friday, May 20th. Gordon Haskett lowered shares of Lowe’s Companies from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Finally, Wedbush cut their target price on shares of Lowe’s Companies from $240.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $238.58.

Lowe’s Companies Trading Up 4.0 %

LOW stock opened at $195.42 on Wednesday. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $263.31. The company has a market cap of $124.90 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.22 and a beta of 1.25. The firm has a 50 day moving average of $185.69 and a 200-day moving average of $204.48.

Institutional Investors Weigh In On Lowe’s Companies

A number of large investors have recently bought and sold shares of LOW. Joseph P. Lucia & Associates LLC acquired a new position in Lowe’s Companies during the 1st quarter worth $27,000. Investors Research Corp acquired a new position in Lowe’s Companies during the 2nd quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth $27,000. Macroview Investment Management LLC lifted its position in Lowe’s Companies by 49.1% during the 1st quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 52 shares during the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in Lowe’s Companies by 388.2% during the 4th quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock worth $43,000 after acquiring an additional 132 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th were issued a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, July 19th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.80. This represents a $4.20 dividend on an annualized basis and a yield of 2.15%. Lowe’s Companies’s dividend payout ratio is currently 34.23%.

Lowe’s Companies Company Profile

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

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