Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) – Stock analysts at Wedbush decreased their Q2 2024 earnings per share (EPS) estimates for shares of Lowe’s Companies in a note issued to investors on Tuesday, May 23rd. Wedbush analyst S. Basham now forecasts that the home improvement retailer will post earnings per share of $4.56 for the quarter, down from their prior forecast of $5.00. The consensus estimate for Lowe’s Companies’ current full-year earnings is $13.48 per share. Wedbush also issued estimates for Lowe’s Companies’ Q3 2024 earnings at $3.10 EPS, Q4 2024 earnings at $2.08 EPS, FY2024 earnings at $13.41 EPS, Q1 2025 earnings at $3.95 EPS, Q2 2025 earnings at $5.03 EPS, Q3 2025 earnings at $3.43 EPS, Q4 2025 earnings at $2.33 EPS, FY2025 earnings at $14.74 EPS and FY2026 earnings at $16.56 EPS.
A number of other equities analysts also recently commented on the stock. DA Davidson increased their price objective on shares of Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday. Oppenheimer lowered their price objective on shares of Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. 888 reaffirmed a “maintains” rating on shares of Lowe’s Companies in a report on Wednesday, May 17th. Morgan Stanley reissued an “overweight” rating and issued a $235.00 price target on shares of Lowe’s Companies in a report on Monday, February 13th. Finally, Citigroup decreased their price target on Lowe’s Companies from $215.00 to $210.00 in a research report on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $222.23.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The home improvement retailer reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.19. The company had revenue of $22.35 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.51 earnings per share.
Hedge Funds Weigh In On Lowe’s Companies
Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in shares of Lowe’s Companies by 21.3% in the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after buying an additional 2,050,089 shares in the last quarter. Pershing Square Capital Management L.P. grew its stake in Lowe’s Companies by 1.6% during the 3rd quarter. Pershing Square Capital Management L.P. now owns 10,374,801 shares of the home improvement retailer’s stock worth $1,948,491,000 after purchasing an additional 167,495 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 purchasing an additional 912,518 shares in the last quarter. Norges Bank purchased a new stake in Lowe’s Companies during the 4th quarter worth about $1,461,267,000. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Lowe’s Companies by 107,710.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares during the last quarter. Hedge funds and other institutional investors 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 value of $1,853,967.00. Following the sale, the executive vice president now directly owns 17,888 shares of the company’s stock, valued at $3,523,936. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.
Lowe’s Companies Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, April 25th. Lowe’s Companies’s dividend payout ratio (DPR) is 40.90%.
About Lowe’s Companies
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.
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