Q2 2024 Earnings Estimate for Lowe’s Companies, Inc. Issued By Telsey Advisory Group (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Investment analysts at Telsey Advisory Group decreased their Q2 2024 earnings per share (EPS) estimates for Lowe’s Companies in a research report issued on Wednesday, May 24th. Telsey Advisory Group analyst J. Feldman now anticipates that the home improvement retailer will post earnings per share of $4.48 for the quarter, down from their prior forecast of $4.65. Telsey Advisory Group currently has a “Outperform” rating and a $225.00 price target on the stock. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.48 per share. Telsey Advisory Group also issued estimates for Lowe’s Companies’ Q3 2024 earnings at $3.14 EPS, Q4 2024 earnings at $2.02 EPS, Q1 2025 earnings at $3.88 EPS, Q2 2025 earnings at $4.87 EPS, Q3 2025 earnings at $3.48 EPS and Q4 2025 earnings at $2.29 EPS.

A number of other brokerages have also issued reports on LOW. Roth Capital reissued a “neutral” rating on shares of Lowe’s Companies in a research note on Wednesday, March 1st. DA Davidson raised their price target on Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, March 2nd. Wedbush raised their price target on Lowe’s Companies from $200.00 to $210.00 in a research note on Wednesday. Finally, Oppenheimer decreased their price target on Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $222.23.

Lowe’s Companies Trading Down 1.3 %

Shares of NYSE:LOW opened at $201.04 on Thursday. The stock’s 50-day moving average price is $201.92 and its two-hundred day moving average price is $204.19. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $223.31. The firm has a market cap of $119.89 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.23 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings data on Tuesday, May 23rd. The home improvement retailer reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.19. The business had revenue of $22.35 billion for the quarter, compared to analyst estimates of $21.68 billion. Lowe’s Companies had a negative return on equity of 68.42% and a net margin of 6.65%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.51 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Axiom Financial Strategies LLC boosted its position in Lowe’s Companies by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after purchasing an additional 123 shares during the period. United Bank raised its stake in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after acquiring an additional 617 shares in the last quarter. Prudential PLC bought a new stake in Lowe’s Companies during the 1st quarter valued at $1,629,000. Baird Financial Group Inc. raised its stake in Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after acquiring an additional 920 shares in the last quarter. Finally, Covestor Ltd raised its stake in Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 72.62% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the sale, the executive vice president now owns 17,888 shares in the company, valued at approximately $3,523,936. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Shareholders of record on Wednesday, April 26th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, April 25th. This represents a $4.20 dividend on an annualized basis and a yield of 2.09%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 40.90%.

About Lowe’s Companies

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.