FY2024 Earnings Estimate for Lowe’s Companies, Inc. Issued By DA Davidson (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – DA Davidson boosted their FY2024 earnings estimates for shares of Lowe’s Companies in a research report issued to clients and investors on Thursday, November 17th. DA Davidson analyst M. Baker now forecasts that the home improvement retailer will post earnings per share of $15.29 for the year, up from their previous forecast of $15.08. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.77 per share.

Lowe’s Companies (NYSE:LOWGet Rating) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.48 billion for the quarter, compared to analysts’ expectations of $23.16 billion. During the same quarter in the previous year, the company earned $2.73 EPS. Lowe’s Companies’s revenue for the quarter was up 2.4% on a year-over-year basis.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Lowe’s Companies from $226.00 to $241.00 and gave the company a “buy” rating in a research note on Wednesday, November 16th. TheStreet upgraded shares of Lowe’s Companies from a “c+” rating to a “b” rating in a report on Monday, August 29th. Robert W. Baird lifted their price target on shares of Lowe’s Companies from $230.00 to $250.00 in a report on Thursday. Piper Sandler lifted their price target on shares of Lowe’s Companies from $248.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday. Finally, StockNews.com initiated coverage on shares of Lowe’s Companies in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.35.

Lowe’s Companies Stock Performance

LOW opened at $209.93 on Monday. Lowe’s Companies has a fifty-two week low of $170.12 and a fifty-two week high of $263.31. The firm’s fifty day moving average is $193.68 and its 200 day moving average is $192.34. The stock has a market cap of $130.30 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.00%. Lowe’s Companies’s dividend payout ratio is presently 41.14%.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently made changes to their positions in the company. Investors Research Corp purchased a new position in shares of Lowe’s Companies during the 2nd quarter worth about $26,000. Standard Family Office LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $26,000. Legend Financial Advisors Inc. purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in Lowe’s Companies in the 2nd quarter valued at about $27,000. Finally, Northwest Investment Counselors LLC boosted its position in Lowe’s Companies by 56.0% in the 3rd quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer’s stock valued at $27,000 after buying an additional 51 shares during the period. 74.04% of the stock is owned by hedge funds and other institutional investors.

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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