Q4 2018 Earnings Forecast for Lowe’s Companies, Inc. (LOW) Issued By SunTrust Banks
Lowe’s Companies, Inc. (NYSE:LOW) – Equities researchers at SunTrust Banks decreased their Q4 2018 earnings estimates for Lowe’s Companies in a report released on Tuesday. SunTrust Banks analyst K. Hughes now expects that the home improvement retailer will post earnings per share of $0.82 for the quarter, down from their previous forecast of $0.86. SunTrust Banks has a “Hold” rating and a $80.00 price objective on the stock. SunTrust Banks also issued estimates for Lowe’s Companies’ Q3 2019 earnings at $1.23 EPS and Q4 2019 earnings at $0.97 EPS.
A number of other brokerages also recently issued reports on LOW. Deutsche Bank AG reissued a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $87.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday. Gordon Haskett began coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective on the stock. UBS Group AG boosted their price objective on Lowe’s Companies from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Telsey Advisory Group boosted their price objective on Lowe’s Companies from $79.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.97.
Shares of Lowe’s Companies (NYSE:LOW) traded down $1.03 during trading hours on Thursday, hitting $79.56. The stock had a trading volume of 7,001,300 shares, compared to its average volume of 5,848,646. The firm has a market cap of $67,453.83, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.13. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.19. Lowe’s Companies has a 12 month low of $69.92 and a 12 month high of $86.25.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is 39.33%.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after acquiring an additional 2,650,045 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Lowe’s Companies by 11.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock valued at $8,177,000 after acquiring an additional 11,119 shares in the last quarter. Blue Edge Capital LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at approximately $727,000. Summit Global Investments bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $1,421,000. Finally, Ffcm LLC grew its holdings in shares of Lowe’s Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after acquiring an additional 1,853 shares in the last quarter. 74.00% of the stock is owned by hedge funds and other institutional investors.
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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