Lowe’s Companies, Inc. (LOW) Expected to Post Earnings of $1.02 Per Share
Equities research analysts expect Lowe’s Companies, Inc. (NYSE:LOW) to post $1.02 earnings per share for the current quarter, Zacks reports. Nine analysts have made estimates for Lowe’s Companies’ earnings, with estimates ranging from $0.97 to $1.06. Lowe’s Companies posted earnings per share of $0.88 in the same quarter last year, which would indicate a positive year over year growth rate of 15.9%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 15th.
On average, analysts expect that Lowe’s Companies will report full year earnings of $4.51 per share for the current year, with EPS estimates ranging from $4.46 to $4.64. For the next financial year, analysts forecast that the company will post earnings of $5.10 per share, with EPS estimates ranging from $5.00 to $5.30. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Lowe’s Companies.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share.
Several brokerages recently issued reports on LOW. Sanford C. Bernstein restated an “underperform” rating and set a $69.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, July 12th. Zacks Investment Research cut Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Monday, July 17th. BMO Capital Markets reissued a “buy” rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Thursday, July 20th. Jefferies Group LLC reissued a “hold” rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price target on shares of Lowe’s Companies in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $85.00.
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In related news, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the sale, the senior vice president now owns 30,750 shares of the company’s stock, valued at $2,407,725. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Lowe’s Companies by 1.4% in the second quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock worth $5,021,542,000 after buying an additional 897,911 shares during the period. BlackRock Inc. grew its stake in shares of Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. FMR LLC grew its stake in shares of Lowe’s Companies by 62.6% in the second quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after buying an additional 3,732,153 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after buying an additional 64,780 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Lowe’s Companies by 8.2% during the 1st quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after buying an additional 671,581 shares during the period. 74.22% of the stock is currently owned by institutional investors.
Lowe’s Companies (LOW) traded up 1.06% during midday trading on Monday, hitting $80.79. The company had a trading volume of 7,335,029 shares. The stock’s 50-day moving average price is $76.59 and its 200-day moving average price is $79.42. The stock has a market cap of $67.28 billion, a PE ratio of 22.94 and a beta of 1.07. Lowe’s Companies has a 52-week low of $64.87 and a 52-week high of $86.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is currently 46.20%.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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