Lowe’s Companies, Inc. (NYSE:LOW) – Stock analysts at SunTrust Banks decreased their Q2 2020 earnings per share estimates for Lowe’s Companies in a note issued to investors on Tuesday, November 20th. SunTrust Banks analyst K. Hughes now expects that the home improvement retailer will earn $1.97 per share for the quarter, down from their previous estimate of $2.01. SunTrust Banks has a “Buy” rating and a $55.00 price objective on the stock. SunTrust Banks also issued estimates for Lowe’s Companies’ FY2020 earnings at $5.73 EPS.
Several other equities analysts have also commented on the stock. Morgan Stanley decreased their price objective on shares of Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. Loop Capital set a $125.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised shares of Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Tuesday, October 23rd. Royal Bank of Canada increased their price objective on shares of Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Finally, Piper Jaffray Companies decreased their price objective on shares of Lowe’s Companies from $110.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $108.89.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $17.36 billion. During the same period last year, the business earned $1.05 EPS. The company’s revenue was up 3.8% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of LOW. Almanack Investment Partners LLC. purchased a new position in Lowe’s Companies during the 2nd quarter worth approximately $103,000. CSat Investment Advisory L.P. purchased a new position in Lowe’s Companies during the 2nd quarter worth approximately $108,000. Columbia Asset Management purchased a new position in Lowe’s Companies during the 3rd quarter worth approximately $109,000. Capital Advisors Ltd. LLC purchased a new position in Lowe’s Companies during the 3rd quarter worth approximately $116,000. Finally, Stelac Advisory Services LLC purchased a new position in Lowe’s Companies during the 3rd quarter worth approximately $123,000. 73.95% of the stock is owned by institutional investors.
In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the completion of the transaction, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio is presently 43.74%.
Lowe’s Companies Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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