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

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Stock analysts at KeyCorp increased their FY2023 earnings per share (EPS) estimates for shares of Lowe’s Companies in a research report issued on Wednesday, November 16th. KeyCorp analyst B. Thomas now expects that the home improvement retailer will earn $13.72 per share for the year, up from their prior forecast of $13.50. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.70 per share. KeyCorp also issued estimates for Lowe’s Companies’ Q4 2023 earnings at $2.23 EPS and FY2024 earnings at $14.25 EPS.

Several other analysts also recently issued reports on the company. Jefferies Financial Group increased their price target on Lowe’s Companies from $255.00 to $259.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Evercore ISI increased their price target on Lowe’s Companies from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Exane BNP Paribas downgraded Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price target for the company. in a report on Wednesday, October 19th. Truist Financial increased their price target on Lowe’s Companies from $237.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Finally, UBS Group upped their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.35.

Lowe’s Companies Trading Up 0.7 %

Shares of NYSE LOW opened at $209.93 on Friday. 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 $130.30 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.20 and a beta of 1.15. The stock has a fifty day moving average price of $193.68 and a 200 day moving average price of $192.51.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.18. Lowe’s Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The business had revenue of $23.48 billion during the quarter, compared to the consensus estimate of $23.16 billion. During the same period in the prior year, the firm posted $2.73 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis.

Hedge Funds Weigh In On Lowe’s Companies

A number of large investors have recently bought and sold shares of LOW. Magellan Asset Management Ltd increased its stake in shares of Lowe’s Companies by 12,323.7% in the first quarter. Magellan Asset Management Ltd now owns 3,174,865 shares of the home improvement retailer’s stock valued at $641,926,000 after purchasing an additional 3,149,310 shares during the period. Renaissance Technologies LLC increased its stake in shares of Lowe’s Companies by 7,952.8% in the first quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock valued at $320,754,000 after purchasing an additional 1,566,700 shares during the period. Egerton Capital UK LLP increased its stake in shares of Lowe’s Companies by 56.2% in the first quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock valued at $730,100,000 after purchasing an additional 1,299,622 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Lowe’s Companies by 2,072.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock valued at $218,055,000 after purchasing an additional 1,028,827 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Lowe’s Companies by 13.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,916,354 shares of the home improvement retailer’s stock valued at $1,486,770,000 after purchasing an additional 912,518 shares during the period. Institutional investors own 74.04% of the company’s stock.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a yield of 2.00%. Lowe’s Companies’s dividend payout ratio is currently 41.14%.

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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