$16.51 Billion in Sales Expected for Lowe’s Companies, Inc. (LOW) This Quarter
Brokerages predict that Lowe’s Companies, Inc. (NYSE:LOW) will post sales of $16.51 billion for the current quarter, according to Zacks. Nine analysts have made estimates for Lowe’s Companies’ earnings, with estimates ranging from $16.40 billion to $16.65 billion. Lowe’s Companies posted sales of $15.74 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The company is expected to report its next earnings report on Wednesday, November 15th.
On average, analysts expect that Lowe’s Companies will report full year sales of $16.51 billion for the current financial year, with estimates ranging from $67.78 billion to $68.44 billion. For the next financial year, analysts expect that the business will report sales of $70.80 billion per share, with estimates ranging from $70.16 billion to $71.49 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Lowe’s Companies.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis.
Several brokerages recently issued reports on LOW. Bank of America Corporation began coverage on shares of Lowe’s Companies in a report on Tuesday, September 5th. They set a “buy” rating and a $95.00 price target on the stock. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG cut their target price on shares of Lowe’s Companies from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $85.12.
In other news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the transaction, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
A number of institutional investors have recently modified their holdings of LOW. SRS Capital Advisors Inc. boosted its holdings in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after acquiring an additional 5 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake in Lowe’s Companies by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 3,346 shares of the home improvement retailer’s stock valued at $275,000 after acquiring an additional 13 shares during the period. Winfield Associates Inc. grew its stake in Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after acquiring an additional 15 shares during the period. Modera Wealth Management LLC grew its stake in Lowe’s Companies by 0.3% in the first quarter. Modera Wealth Management LLC now owns 4,927 shares of the home improvement retailer’s stock valued at $405,000 after acquiring an additional 15 shares during the period. Finally, Alps Advisors Inc. grew its stake in Lowe’s Companies by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,844 shares of the home improvement retailer’s stock valued at $453,000 after acquiring an additional 15 shares during the period. 74.22% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies (NYSE LOW) opened at 81.35 on Wednesday. The firm has a market capitalization of $67.75 billion, a price-to-earnings ratio of 23.10 and a beta of 1.07. The stock’s 50 day moving average is $76.70 and its 200-day moving average is $79.40. Lowe’s Companies has a 12 month low of $64.87 and a 12 month high of $86.25. Lowe’s Companies also was the recipient of unusually large options trading on Monday. Stock investors bought 6,466 put options on the stock. This is an increase of approximately 538% compared to the typical volume of 1,014 put options.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is 46.20%.
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About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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