Lowe’s Companies, Inc. (NYSE:LOW) to Issue $1.20 Quarterly Dividend

Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, November 14th. Investors of record on Wednesday, January 21st will be paid a dividend of 1.20 per share by the home improvement retailer on Wednesday, February 4th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, January 21st.

Lowe’s Companies has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 53 consecutive years. Lowe’s Companies has a payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $12.54 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 38.3%.

Lowe’s Companies Trading Up 0.2%

Shares of NYSE LOW opened at $277.66 on Monday. Lowe’s Companies has a one year low of $206.38 and a one year high of $278.44. The business has a 50-day moving average price of $245.03 and a two-hundred day moving average price of $244.63. The firm has a market capitalization of $155.75 billion, a PE ratio of 23.02, a PEG ratio of 4.60 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 earnings per share. Research analysts anticipate that Lowe’s Companies will post 11.9 EPS for the current year.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Wolfe Research cut their price objective on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Argus reduced their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. TD Cowen dropped their target price on Lowe’s Companies from $275.00 to $250.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. lifted their price target on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $281.92.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.