Lowe’s Companies, Inc. Forecasted to Earn Q2 2023 Earnings of $4.59 Per Share (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Oppenheimer cut their Q2 2023 earnings per share (EPS) estimates for Lowe’s Companies in a research note issued to investors on Wednesday, August 3rd. Oppenheimer analyst B. Nagel now forecasts that the home improvement retailer will post earnings of $4.59 per share for the quarter, down from their previous estimate of $4.71. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.44 per share. Oppenheimer also issued estimates for Lowe’s Companies’ Q3 2023 earnings at $3.05 EPS, Q4 2023 earnings at $2.22 EPS, FY2023 earnings at $13.44 EPS, FY2024 earnings at $14.66 EPS and FY2025 earnings at $16.10 EPS.

A number of other equities analysts have also recently issued reports on LOW. Truist Financial cut their target price on Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Loop Capital cut their price objective on shares of Lowe’s Companies from $240.00 to $190.00 in a report on Tuesday, April 12th. UBS Group lowered their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Guggenheim cut their price target on shares of Lowe’s Companies to $240.00 in a report on Friday, May 20th. Finally, Jefferies Financial Group decreased their price objective on shares of Lowe’s Companies from $290.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $238.58.

Lowe’s Companies Price Performance

Shares of LOW opened at $199.08 on Friday. Lowe’s Companies has a one year low of $170.12 and a one year high of $263.31. The company has a market cap of $127.24 billion, a PE ratio of 16.22, a P/E/G ratio of 1.23 and a beta of 1.25. The stock has a 50-day moving average of $185.71 and a 200-day moving average of $203.88.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.27. 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 for the quarter, compared to analyst estimates of $23.72 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. Lowe’s Companies’s revenue was down 3.1% on a year-over-year basis.

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Lowe’s Companies during the first quarter worth $27,000. Investors Research Corp purchased a new stake in shares of Lowe’s Companies during the second quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Lowe’s Companies during the second quarter worth $27,000. Macroview Investment Management LLC lifted its position in shares of Lowe’s Companies by 49.1% during the first 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 in the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in shares of Lowe’s Companies by 388.2% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were given a dividend of $1.05 per share. The ex-dividend date was Tuesday, July 19th. This represents a $4.20 annualized dividend and a dividend yield of 2.11%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio is currently 34.23%.

About Lowe’s Companies

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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, d├ęcor, lighting, and electrical.

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

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