Research Analysts Offer Predictions for Lowe’s Companies, Inc.’s Q1 2024 Earnings (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) – Research analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for Lowe’s Companies in a note issued to investors on Thursday, November 17th. Wedbush analyst S. Basham anticipates that the home improvement retailer will post earnings of $3.75 per share for the quarter. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.77 per share. Wedbush also issued estimates for Lowe’s Companies’ Q2 2024 earnings at $4.54 EPS, Q3 2024 earnings at $3.05 EPS, Q4 2024 earnings at $1.92 EPS, FY2024 earnings at $13.26 EPS and FY2025 earnings at $14.66 EPS.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its earnings results 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. The company had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. Lowe’s Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 earnings per share.

A number of other equities analysts have also weighed in on LOW. Oppenheimer reiterated an “outperform” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday. Telsey Advisory Group lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their target price on Lowe’s Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, October 3rd. Evercore ISI boosted their price target on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Finally, Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $220.00 to $245.00 in a research note on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $231.35.

Lowe’s Companies Trading Up 0.7 %

Shares of NYSE LOW opened at $209.93 on Monday. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $263.31. The stock’s fifty day simple moving average is $193.68 and its two-hundred day simple moving average is $192.34. The stock has a market capitalization of $130.30 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. IFM Investors Pty Ltd lifted its position in Lowe’s Companies by 15.3% during the 1st quarter. IFM Investors Pty Ltd now owns 106,624 shares of the home improvement retailer’s stock worth $21,558,000 after acquiring an additional 14,118 shares during the last quarter. Axiom Financial Strategies LLC lifted its position in shares of Lowe’s Companies by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock worth $275,000 after purchasing an additional 123 shares in the last quarter. Sandy Spring Bank lifted its position in shares of Lowe’s Companies by 2.6% during the first quarter. Sandy Spring Bank now owns 65,165 shares of the home improvement retailer’s stock worth $13,176,000 after purchasing an additional 1,674 shares in the last quarter. Venture Visionary Partners LLC lifted its holdings in Lowe’s Companies by 24.3% in the first quarter. Venture Visionary Partners LLC now owns 36,530 shares of the home improvement retailer’s stock valued at $7,386,000 after buying an additional 7,138 shares during the period. Finally, Westhampton Capital LLC lifted its holdings in 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 buying an additional 50 shares during the period. 74.04% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, January 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 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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