Lowe's Companies (LOW) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Lowe's Companies (NYSE:LOW) released its earnings data on Wednesday. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.02 by $0.02, Stock Ratings News reports. The company had revenue of $16.60 billion for the quarter, compared to the consensus estimate of $16.55 billion.
Shares of Lowe's Companies (NYSE:LOW) opened at 51.52 on Wednesday. Lowe's Companies has a 1-year low of $43.52 and a 1-year high of $52.08. The stock has a 50-day moving average of $48.34 and a 200-day moving average of $47.56. The company has a market cap of $51.382 billion and a price-to-earnings ratio of 22.32. Lowe's Companies also was the recipient of some unusual options trading on Monday. Traders purchased 11,401 call options on the company. This is an increase of approximately 256% compared to the typical daily volume of 3,202 call options.
A number of research firms have recently commented on LOW. 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. On a related note, 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. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Lowe's Companies has an average rating of “Buy” and an average price target of $51.00.
Lowe’s Companies, Inc (NYSE:LOW) is a home improvement retailer.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.