Share Repurchase Plan Declared by Lowe's Companies (LOW)

Lowe's Companies (NYSE:LOW) declared that its Board of Directors has initiated a share repurchase program, which allows the company to buyback $5.00 billion in outstanding shares on Friday, January 26th, EventVestor reports. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Shares of Lowe's Companies (NYSE:LOW) traded down $0.18 on Monday, reaching $107.22. 1,048,765 shares of the company’s stock traded hands, compared to its average volume of 5,900,451. Lowe's Companies has a one year low of $70.76 and a one year high of $108.98. The firm has a market capitalization of $89,116.29, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.47 and a beta of 1.14. The company has a quick ratio of 0.12, a current ratio of 1.02 and a debt-to-equity ratio of 2.71.

Lowe's Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The company had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. sell-side analysts predict that Lowe's Companies will post 4.52 EPS for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.53%. Lowe's Companies’s dividend payout ratio is presently 39.33%.

Several research firms recently issued reports on LOW. Stifel Nicolaus reissued a “buy” rating and issued a $103.00 target price on shares of Lowe's Companies in a research note on Friday, December 22nd. Barclays raised shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Sanford C. Bernstein raised shares of Lowe's Companies from an “underperform” rating to an “outperform” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reissued a “hold” rating and issued a $82.00 target price on shares of Lowe's Companies in a research note on Friday, November 24th. Finally, Robert W. Baird reissued a “buy” rating and issued a $110.00 target price on shares of Lowe's Companies in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $93.59.

In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the transaction, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

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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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