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

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Research analysts at Jefferies Financial Group increased their FY2023 earnings estimates for shares of Lowe’s Companies in a report released on Wednesday, November 16th. Jefferies Financial Group analyst J. Matuszewski now anticipates that the home improvement retailer will post earnings per share of $13.73 for the year, up from their previous forecast of $13.50. Jefferies Financial Group has a “Buy” rating and a $259.00 price objective on the stock. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.70 per share. Jefferies Financial Group also issued estimates for Lowe’s Companies’ Q4 2023 earnings at $2.20 EPS.

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

LOW has been the topic of a number of other reports. Wedbush reduced their price target on shares of Lowe’s Companies to $190.00 in a research note on Wednesday. TheStreet upgraded shares of Lowe’s Companies from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Cowen started coverage on shares of Lowe’s Companies in a research note on Wednesday, October 19th. They issued a “market perform” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of Lowe’s Companies from $235.00 to $205.00 in a research report on Friday, November 11th. Finally, Exane BNP Paribas downgraded shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 target price on the stock. in a research report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.35.

Lowe’s Companies Trading Up 0.7 %

LOW opened at $209.93 on Friday. The company’s 50 day moving average is $193.68 and its 200-day moving average is $192.51. Lowe’s Companies has a 1-year low of $170.12 and a 1-year high of $263.31. The company has a market cap of $130.30 billion, a P/E ratio of 20.56, a PEG ratio of 1.20 and a beta of 1.15.

Institutional Trading of Lowe’s Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of LOW. Magellan Asset Management Ltd increased its stake in Lowe’s Companies by 12,323.7% during the 1st 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Lowe’s Companies by 7,952.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock worth $320,754,000 after acquiring an additional 1,566,700 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Lowe’s Companies by 56.2% during the 1st quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock worth $730,100,000 after acquiring an additional 1,299,622 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Lowe’s Companies by 2,072.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock worth $218,055,000 after acquiring an additional 1,028,827 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Lowe’s Companies by 13.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,916,354 shares of the home improvement retailer’s stock worth $1,486,770,000 after acquiring an additional 912,518 shares during the last quarter. Institutional investors own 74.04% of the company’s stock.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be paid a dividend of $1.05 per share. 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 (DPR) is presently 41.14%.

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, décor, lighting, and electrical.

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

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