Lowe’s Companies, Inc. (LOW) to Issue Quarterly Dividend of $1.10 on May 8th

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, March 22nd, RTT News reports. Stockholders of record on Wednesday, April 24th will be paid a dividend of 1.10 per share by the home improvement retailer on Wednesday, May 8th. This represents a $4.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Lowe’s Companies has raised its dividend by an average of 24.1% annually over the last three years and has increased its dividend annually for the last 52 consecutive years. Lowe’s Companies has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $13.45 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 32.7%.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $230.24 on Friday. The company’s fifty day moving average price is $239.62 and its two-hundred day moving average price is $218.76. The firm has a market capitalization of $131.74 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.70 and a beta of 1.13. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the prior year, the business posted $2.28 earnings per share. Lowe’s Companies’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies will post 12.21 EPS for the current year.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares in the last quarter. Norges Bank bought a new stake in Lowe’s Companies in the fourth quarter worth about $1,461,267,000. Legal & General Group Plc lifted its holdings in Lowe’s Companies by 27.6% in the 4th quarter. Legal & General Group Plc now owns 5,209,241 shares of the home improvement retailer’s stock valued at $1,159,315,000 after acquiring an additional 1,127,790 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Lowe’s Companies by 107,710.7% during 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 in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Lowe’s Companies by 40.1% in the 2nd quarter. Royal Bank of Canada now owns 1,954,025 shares of the home improvement retailer’s stock worth $441,024,000 after purchasing an additional 559,408 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research analyst reports. Mizuho initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, March 19th. They issued a “buy” rating and a $280.00 price target for the company. Zelman & Associates restated a “neutral” rating and issued a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Oppenheimer reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Monday, March 4th. DA Davidson reissued a “neutral” rating and issued a $270.00 price objective on shares of Lowe’s Companies in a report on Wednesday, March 27th. Finally, Wells Fargo & Company upped their price objective on Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and an average price target of $252.52.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also 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, and electrical.