Lowe’s Companies, Inc. (NYSE:LOW) has earned an average recommendation of “Buy” from the twenty-seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $258.71.
Several equities analysts have issued reports on LOW shares. Wedbush lifted their price target on shares of Lowe’s Companies from $210.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 18th. Truist Securities lifted their price target on shares of Lowe’s Companies from $217.00 to $284.00 and gave the stock a “buy” rating in a report on Thursday, November 18th. Jefferies Financial Group lifted their price target on shares of Lowe’s Companies from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, December 16th. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, December 16th. Finally, Loop Capital boosted their price objective on shares of Lowe’s Companies from $220.00 to $240.00 and gave the company a “hold” rating in a report on Thursday, November 18th.
Several institutional investors have recently modified their holdings of the business. Pacifica Partners Inc. acquired a new position in shares of Lowe’s Companies during the 4th quarter worth about $25,000. Bell Investment Advisors Inc acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth about $32,000. Destiny Wealth Partners LLC acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth about $33,000. Moors & Cabot Inc. raised its position in shares of Lowe’s Companies by 80.7% during the 3rd quarter. Moors & Cabot Inc. now owns 32,000 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 14,288 shares during the last quarter. Finally, Herold Advisors Inc. acquired a new position in shares of Lowe’s Companies during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 74.17% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 17th. The home improvement retailer reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.38. The company had revenue of $22.92 billion during the quarter, compared to the consensus estimate of $22.06 billion. Lowe’s Companies had a net margin of 8.63% and a return on equity of 25,100.30%. Lowe’s Companies’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. On average, analysts forecast that Lowe’s Companies will post 11.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 2nd. Shareholders of record on Wednesday, January 19th will be given a $0.80 dividend. The ex-dividend date is Tuesday, January 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.31%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 27.80%.
Lowe’s Companies declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 15th that permits the company to repurchase $13.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
About Lowe’s Companies
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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