Zacks: Brokerages Expect Lowe’s Companies, Inc. (NYSE:LOW) Will Announce Quarterly Sales of $19.47 Billion

Wall Street analysts forecast that Lowe’s Companies, Inc. (NYSE:LOW) will announce sales of $19.47 billion for the current quarter, according to Zacks. Nine analysts have provided estimates for Lowe’s Companies’ earnings, with estimates ranging from $18.80 billion to $20.82 billion. Lowe’s Companies posted sales of $16.03 billion in the same quarter last year, which would indicate a positive year over year growth rate of 21.5%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, February 24th.

On average, analysts expect that Lowe’s Companies will report full-year sales of $88.69 billion for the current fiscal year, with estimates ranging from $88.09 billion to $90.11 billion. For the next financial year, analysts expect that the firm will post sales of $85.03 billion, with estimates ranging from $80.78 billion to $86.82 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Lowe’s Companies.

LOW has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, February 18th. Truist reiterated a “buy” rating and issued a $178.00 target price on shares of Lowe’s Companies in a research note on Friday, November 20th. Telsey Advisory Group lifted their target price on shares of Lowe’s Companies from $190.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, December 10th. Jefferies Financial Group raised their price objective on shares of Lowe’s Companies from $202.00 to $207.00 and gave the company a “buy” rating in a research report on Thursday, December 10th. Finally, Gordon Haskett cut shares of Lowe’s Companies from a “buy” rating to an “accumulate” rating and set a $181.00 price target on the stock. in a report on Thursday, November 12th. Five investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $172.42.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in shares of Lowe’s Companies by 10.7% in the fourth quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock worth $4,871,866,000 after buying an additional 2,940,777 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Lowe’s Companies by 96.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,886,003 shares of the home improvement retailer’s stock worth $810,393,000 after purchasing an additional 2,396,294 shares in the last quarter. Maj Invest Holding A S grew its position in shares of Lowe’s Companies by 106.9% during the fourth quarter. Maj Invest Holding A S now owns 1,934,106 shares of the home improvement retailer’s stock worth $310,443,000 after purchasing an additional 999,428 shares in the last quarter. Standard Life Aberdeen plc grew its position in shares of Lowe’s Companies by 186.2% during the third quarter. Standard Life Aberdeen plc now owns 1,525,532 shares of the home improvement retailer’s stock worth $253,025,000 after purchasing an additional 992,575 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Lowe’s Companies by 17.8% during the fourth quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock worth $1,043,751,000 after purchasing an additional 982,465 shares in the last quarter. 76.11% of the stock is currently owned by institutional investors.

Shares of LOW stock traded down $4.98 on Thursday, hitting $167.43. The stock had a trading volume of 285,215 shares, compared to its average volume of 3,671,564. Lowe’s Companies has a 12-month low of $60.00 and a 12-month high of $180.67. The business has a 50 day moving average of $171.38 and a 200 day moving average of $164.04. The company has a debt-to-equity ratio of 5.20, a current ratio of 1.38 and a quick ratio of 0.57. The stock has a market cap of $122.68 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.37.

About Lowe’s Companies

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

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Earnings History and Estimates for Lowe`s Companies (NYSE:LOW)

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