Lowe’s Companies (NYSE:LOW) Price Target Cut to $275.00 by Analysts at Evercore ISI

Lowe’s Companies (NYSE:LOW) had its price target reduced by Evercore ISI from $280.00 to $275.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the home improvement retailer’s stock.

A number of other brokerages have also recently issued reports on LOW. Truist Financial lifted their target price on Lowe’s Companies from $258.00 to $271.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on Lowe’s Companies from $238.00 to $262.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Morgan Stanley lifted their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Zelman & Associates reaffirmed a neutral rating and issued a $265.00 target price on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, Mizuho assumed coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They issued a buy rating and a $280.00 target price for the company. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies currently has an average rating of Hold and an average price target of $252.52.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $228.31 on Tuesday. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49. The stock has a market cap of $130.63 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. The business’s fifty day moving average is $239.15 and its 200-day moving average is $218.31.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 EPS. Equities research analysts predict that Lowe’s Companies will post 12.21 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Institutional Trading of Lowe’s Companies

Several large investors have recently made changes to their positions in the stock. Independence Bank of Kentucky boosted its stake in shares of Lowe’s Companies by 5.8% during the 1st quarter. Independence Bank of Kentucky now owns 15,806 shares of the home improvement retailer’s stock worth $4,026,000 after acquiring an additional 865 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its position in shares of Lowe’s Companies by 21.3% during the 1st quarter. S.E.E.D. Planning Group LLC now owns 10,284 shares of the home improvement retailer’s stock worth $2,620,000 after purchasing an additional 1,805 shares during the last quarter. Webster Bank N. A. lifted its position in shares of Lowe’s Companies by 13.6% during the 1st quarter. Webster Bank N. A. now owns 6,287 shares of the home improvement retailer’s stock worth $1,601,000 after purchasing an additional 755 shares during the last quarter. Norway Savings Bank lifted its position in shares of Lowe’s Companies by 2.3% during the 1st quarter. Norway Savings Bank now owns 7,009 shares of the home improvement retailer’s stock worth $1,785,000 after purchasing an additional 160 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its position in shares of Lowe’s Companies by 4.6% during the 1st quarter. Kathmere Capital Management LLC now owns 1,447 shares of the home improvement retailer’s stock worth $369,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.