Lowe’s Companies (NYSE:LOW) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of Lowe’s Companies (NYSE:LOW) in a report published on Wednesday morning, Benzinga reports. They currently have a $250.00 target price on the home improvement retailer’s stock.

LOW has been the subject of a number of other research reports. Citigroup reduced their price objective on Lowe’s Companies from $243.00 to $240.00 and set a neutral rating for the company in a research report on Tuesday, May 7th. The Goldman Sachs Group upped their price objective on Lowe’s Companies from $238.00 to $262.00 and gave the company a buy rating in a research report on Tuesday, February 13th. Zelman & Associates reiterated a neutral rating and set a $265.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Oppenheimer reiterated a market perform rating and set a $230.00 price objective on shares of Lowe’s Companies in a research report on Monday, March 4th. Finally, Evercore ISI reduced their price objective on Lowe’s Companies from $255.00 to $250.00 and set an in-line rating for the company in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $251.33.

Lowe’s Companies Price Performance

LOW stock opened at $221.11 on Wednesday. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $262.49. The business has a fifty day moving average price of $237.57 and a 200-day moving average price of $224.71. The stock has a market capitalization of $126.52 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.69 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the business earned $3.67 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. As a group, analysts anticipate that Lowe’s Companies will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s payout ratio is presently 33.43%.

Hedge Funds Weigh In On Lowe’s Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Management Group Inc. boosted its stake in Lowe’s Companies by 4.0% during the fourth quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock valued at $268,000 after buying an additional 46 shares during the last quarter. McAdam LLC raised its position in Lowe’s Companies by 3.5% during the first quarter. McAdam LLC now owns 1,363 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 46 shares during the period. First Bank & Trust raised its position in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after purchasing an additional 46 shares during the period. First Command Advisory Services Inc. raised its position in Lowe’s Companies by 1.9% during the fourth quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the period. Finally, Prospect Financial Services LLC raised its position in Lowe’s Companies by 3.0% during the first quarter. Prospect Financial Services LLC now owns 1,623 shares of the home improvement retailer’s stock valued at $413,000 after purchasing an additional 48 shares during the period. 74.06% of the stock is owned by institutional investors.

About Lowe’s Companies

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.