Short Interest in Lowe's Companies Decreases By 16.5% (LOW)
Lowe's Companies (NYSE:LOW) was the recipient of a large decrease in short interest during the month of June. As of June 13th, there was short interest totalling 21,030,813 shares, a decrease of 16.5% from the May 30th total of 25,193,414 shares, AnalystRatings.NET reports. Based on an average trading volume of 4,928,548 shares, the days-to-cover ratio is presently 4.3 days. Currently, 2.1% of the company’s stock are sold short.
A number of analysts have recently weighed in on LOW shares. Analysts at Morgan Stanley initiated coverage on shares of Lowe's Companies in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Lowe's Companies in a research note on Thursday, June 12th. They now have a $49.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.87.
Lowe's Companies (NYSE:LOW) opened at 48.21 on Tuesday. Lowe's Companies has a 52 week low of $43.17 and a 52 week high of $52.08. The stock has a 50-day moving average of $46.83 and a 200-day moving average of $47.52. The company has a market cap of $48.081 billion and a P/E ratio of 21.34.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that Lowe's Companies will post $2.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 6th. Shareholders 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 1.91%. The ex-dividend date is Monday, July 21st. This is a positive change 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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