Lowe’s Cos. (NYSE:LOW) was downgraded by stock analysts at Cleveland Research from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.
Other analysts have also issued reports about the company. Vetr raised Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $87.38 price objective for the company in a report on Tuesday, August 2nd. Jefferies Group restated a “hold” rating and issued a $81.00 target price on shares of Lowe’s Cos. in a research note on Thursday, August 18th. Argus restated a “buy” rating and issued a $90.00 target price on shares of Lowe’s Cos. in a research note on Thursday, August 18th. Nomura set a $80.00 target price on Lowe’s Cos. and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $70.00 target price on shares of Lowe’s Cos. in a research note on Thursday, August 4th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $85.93.
Lowe’s Cos. (NYSE:LOW) opened at 72.25 on Thursday. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 23.42 and a beta of 1.13. The firm’s 50-day moving average price is $73.99 and its 200-day moving average price is $77.32. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65.
Lowe’s Cos. (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. The company had revenue of $18.26 billion for the quarter, compared to the consensus estimate of $18.42 billion. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. Equities research analysts forecast that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, October 17th. This represents a $1.40 annualized dividend and a yield of 1.94%. Lowe’s Cos.’s payout ratio is 45.16%.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Lowe’s Cos. during the second quarter worth $284,442,000. Emerald Acquisition Ltd. purchased a new stake in Lowe’s Cos. during the second quarter worth $162,367,000. Wellington Management Group LLP raised its stake in Lowe’s Cos. by 6.9% in the first quarter. Wellington Management Group LLP now owns 28,620,388 shares of the home improvement retailer’s stock worth $2,167,994,000 after buying an additional 1,841,494 shares in the last quarter. Bessemer Group Inc. raised its stake in Lowe’s Cos. by 3,223.7% in the first quarter. Bessemer Group Inc. now owns 1,558,708 shares of the home improvement retailer’s stock worth $118,071,000 after buying an additional 1,511,811 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock worth $1,042,084,000 after buying an additional 1,280,426 shares in the last quarter. Institutional investors own 75.48% of the company’s stock.
About Lowe’s Cos.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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