Lowe’s Companies, Inc. (NYSE:LOW) Forecasted to Post Q1 2024 Earnings of $3.69 Per Share

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Jefferies Financial Group dropped their Q1 2024 earnings estimates for Lowe’s Companies in a research note issued to investors on Wednesday, November 16th. Jefferies Financial Group analyst J. Matuszewski now anticipates that the home improvement retailer will post earnings of $3.69 per share for the quarter, down from their prior estimate of $4.00. 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 $13.77 per share. Jefferies Financial Group also issued estimates for Lowe’s Companies’ Q2 2024 earnings at $4.76 EPS, Q3 2024 earnings at $3.27 EPS, Q4 2024 earnings at $2.16 EPS, FY2024 earnings at $13.95 EPS and FY2025 earnings at $15.88 EPS.

Other equities analysts have also recently issued research reports about 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. Citigroup cut their price objective on shares of Lowe’s Companies from $217.00 to $215.00 in a research report on Monday, October 31st. Truist Financial boosted their price objective on shares of Lowe’s Companies from $237.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Exane BNP Paribas lowered shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price objective for the company. in a research report on Wednesday, October 19th. Finally, Evercore ISI boosted their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Two investment 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.35.

Lowe’s Companies Trading Up 0.7 %

Shares of LOW opened at $209.93 on Monday. The stock has a market cap of $130.30 billion, a P/E ratio of 20.56, a PEG ratio of 1.17 and a beta of 1.15. The company has a 50-day moving average of $193.68 and a two-hundred day moving average of $192.34. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $263.31.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westhampton Capital LLC boosted its stake in shares of Lowe’s Companies by 0.7% in the first quarter. Westhampton Capital LLC now owns 7,100 shares of the home improvement retailer’s stock valued at $1,436,000 after purchasing an additional 50 shares during the period. Rollins Financial boosted its stake in shares of Lowe’s Companies by 4.1% in the first quarter. Rollins Financial now owns 1,263 shares of the home improvement retailer’s stock valued at $255,000 after purchasing an additional 50 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Lowe’s Companies by 1.2% in the second quarter. WINTON GROUP Ltd now owns 4,077 shares of the home improvement retailer’s stock valued at $712,000 after purchasing an additional 50 shares during the period. Confluence Wealth Services Inc. raised its holdings in Lowe’s Companies by 1.4% in the second quarter. Confluence Wealth Services Inc. now owns 3,500 shares of the home improvement retailer’s stock valued at $707,000 after acquiring an additional 50 shares in the last quarter. Finally, Family Firm Inc. raised its holdings in Lowe’s Companies by 3.0% in the third quarter. Family Firm Inc. now owns 1,712 shares of the home improvement retailer’s stock valued at $322,000 after acquiring an additional 50 shares in the last quarter. 74.04% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Announces Dividend

The firm also recently disclosed 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 annualized dividend 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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