Goldman Sachs Group Inc. Downgrades Lowe’s Cos. (LOW) to Buy
Lowe’s Cos. (NYSE:LOW) was downgraded by research analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.
LOW has been the subject of several other research reports. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $94.00 target price on shares of Lowe’s Cos. in a research report on Monday, August 29th. Vetr raised Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $92.50 price objective for the company in a research report on Friday, August 12th. Jefferies Group reaffirmed a “hold” rating on shares of Lowe’s Cos. in a research report on Monday, September 12th. Peel Hunt reaffirmed a “buy” rating and set a $85.00 price objective on shares of Lowe’s Cos. in a research report on Wednesday, July 6th. Finally, Robert W. Baird set a $88.00 price objective on Lowe’s Cos. and gave the company a “buy” rating in a research report on Monday, September 19th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $85.93.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The business earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. During the same quarter last year, the business posted $1.20 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 annualized dividend and a dividend yield of 1.96%. Lowe’s Cos.’s dividend payout ratio (DPR) is presently 45.16%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pegasus Partners Ltd. bought a new position in Lowe’s Cos. during the first quarter worth approximately $925,000. Donaldson Capital Management LLC increased its position in Lowe’s Cos. by 14.3% in the first quarter. Donaldson Capital Management LLC now owns 261,357 shares of the home improvement retailer’s stock worth $19,798,000 after buying an additional 32,762 shares during the period. Stockman Asset Management increased its position in Lowe’s Cos. by 1.3% in the first quarter. Stockman Asset Management now owns 28,377 shares of the home improvement retailer’s stock worth $2,150,000 after buying an additional 359 shares during the period. BB&T Securities LLC increased its position in Lowe’s Cos. by 11.3% in the first quarter. BB&T Securities LLC now owns 177,259 shares of the home improvement retailer’s stock worth $13,427,000 after buying an additional 17,944 shares during the period. Finally, Credit Agricole S A increased its position in Lowe’s Cos. by 11.2% in the first quarter. Credit Agricole S A now owns 370,084 shares of the home improvement retailer’s stock worth $28,036,000 after buying an additional 37,238 shares during the period. Hedge funds and other institutional investors own 75.45% of the company’s stock.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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