Lowe’s Companies (NYSE:LOW) Issues FY 2024 Earnings Guidance

Lowe’s Companies (NYSE:LOW) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 12.000-12.300 for the period, compared to the consensus EPS estimate of 12.190. The company issued revenue guidance of $84.0 billion-$85.0 billion, compared to the consensus revenue estimate of $84.4 billion. Lowe’s Companies also updated its FY25 guidance to $12.00-12.30 EPS.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent research reports. Citigroup lowered their target price on Lowe’s Companies from $243.00 to $240.00 and set a neutral rating on the stock in a research note on Tuesday, May 7th. StockNews.com upgraded Lowe’s Companies from a hold rating to a buy rating in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of Lowe’s Companies from $235.00 to $250.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. UBS Group boosted their target price on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a hold rating in a report on Monday, May 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $251.33.

Lowe’s Companies Price Performance

Shares of LOW opened at $217.38 on Friday. The company has a market capitalization of $124.38 billion, a P/E ratio of 17.46, a PEG ratio of 1.71 and a beta of 1.15. Lowe’s Companies has a one year low of $181.85 and a one year high of $262.49. The business’s 50 day simple moving average is $237.03 and its 200-day simple moving average is $224.66.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $3.67 earnings per share. On average, sell-side analysts anticipate that Lowe’s Companies will post 12.22 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

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.