Lowe's Companies, Inc. (LOW) Stock Rating Reaffirmed by Goldman Sachs Group Inc
Lowe's Companies, Inc. (NYSE:LOW)‘s stock had its “buy” rating reiterated by stock analysts at Goldman Sachs Group Inc in a research report issued to clients and investors on Thursday. They presently have a $96.00 price objective on the home improvement retailer’s stock, down from their prior price objective of $97.00. Goldman Sachs Group Inc’s price objective suggests a potential upside of 18.04% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada restated a “buy” rating and issued a $90.00 price target on shares of Lowe's Companies in a report on Monday, April 3rd. BMO Capital Markets restated a “buy” rating and issued a $89.00 price target on shares of Lowe's Companies in a report on Friday, May 5th. Jefferies Group LLC upped their price target on Lowe's Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 12th. BTIG Research restated a “buy” rating and issued a $80.00 price target on shares of Lowe's Companies in a report on Wednesday, February 22nd. Finally, Vetr cut Lowe's Companies from a “sell” rating to a “strong sell” rating and set a $72.25 price target for the company. in a report on Monday, April 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $85.67.
Shares of Lowe's Companies (NYSE:LOW) traded up 1.85% during mid-day trading on Thursday, reaching $81.33. 10,284,653 shares of the company traded hands. Lowe's Companies has a 52-week low of $64.87 and a 52-week high of $86.25. The firm’s 50 day moving average price is $83.81 and its 200-day moving average price is $77.12. The company has a market capitalization of $69.73 billion, a P/E ratio of 23.44 and a beta of 1.28.
Lowe's Companies (NYSE:LOW) last issued its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The firm had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts predict that Lowe's Companies will post $4.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 24th. This represents a $1.40 annualized dividend and a yield of 1.72%. Lowe's Companies’s dividend payout ratio is currently 51.28%.
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In related news, insider Paul D. Ramsay sold 30,638 shares of the stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $80.84, for a total value of $2,476,775.92. Following the completion of the transaction, the insider now owns 10,960 shares in the company, valued at approximately $886,006.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall A. Croom sold 12,700 shares of the stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $82.14, for a total value of $1,043,178.00. Following the completion of the transaction, the chief financial officer now owns 53,479 shares of the company’s stock, valued at approximately $4,392,765.06. The disclosure for this sale can be found here. Insiders have sold 520,357 shares of company stock valued at $42,207,226 in the last ninety days. Company insiders own 0.39% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. raised its position in Lowe's Companies by 9.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 170,183 shares of the home improvement retailer’s stock worth $12,289,000 after buying an additional 14,541 shares during the period. BB&T Corp raised its position in Lowe's Companies by 0.6% in the third quarter. BB&T Corp now owns 181,261 shares of the home improvement retailer’s stock worth $13,089,000 after buying an additional 1,085 shares during the period. Osborne Partners Capital Management LLC raised its position in Lowe's Companies by 1.6% in the third quarter. Osborne Partners Capital Management LLC now owns 112,817 shares of the home improvement retailer’s stock worth $8,147,000 after buying an additional 1,779 shares during the period. Noesis Capital Mangement Corp raised its position in Lowe's Companies by 2.9% in the third quarter. Noesis Capital Mangement Corp now owns 107,751 shares of the home improvement retailer’s stock worth $7,781,000 after buying an additional 3,008 shares during the period. Finally, Spinnaker Trust raised its position in Lowe's Companies by 0.5% in the third quarter. Spinnaker Trust now owns 34,235 shares of the home improvement retailer’s stock worth $2,594,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 74.46% of the company’s stock.
Lowe's Companies 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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