Lowe's Companies Sees Unusually High Options Volume (LOW)
Lowe's Companies (NYSE:LOW) was the target of some unusual options trading activity on Monday. Investors purchased 10,834 put options on the company, American Banking and Market News reports. This represents an increase of approximately 252% compared to the average daily volume of 3,076 put options.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity downgraded shares of Lowe's Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 28th. They now have a $37.00 price target on the stock, down previously from $47.00. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Lowe's Companies in a research note on Thursday, May 22nd. They now have a $54.00 price target on the stock, down previously from $57.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Lowe's Companies in a research note on Thursday, May 22nd. They now have a $45.00 price target on the stock, down previously from $47.00. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.07.
Shares of Lowe's Companies (NYSE:LOW) traded down 0.33% on Monday, hitting $47.61. The stock had a trading volume of 3,700,168 shares. Lowe's Companies has a 52-week low of $38.87 and a 52-week high of $52.08. The stock has a 50-day moving average of $46.37 and a 200-day moving average of $47.65. The company has a market cap of $42.075T and a price-to-earnings ratio of 21.14.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.01. The company had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $13.86 billion. During the same quarter last year, the company posted $0.49 earnings per share. Lowe's Companies’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Lowe's Companies will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, July 21st. This is an increase from Lowe's Companies’s previous quarterly dividend of $0.18.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
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