Lowe’s Companies (NYSE:LOW) Issues Earnings Results, Beats Expectations By $0.18 EPS

Lowe’s Companies (NYSE:LOWGet Rating) released its quarterly earnings data on Wednesday. The home improvement retailer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.18, RTT News reports. Lowe’s Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The business had revenue of $23.48 billion during the quarter, compared to the consensus estimate of $23.16 billion. During the same quarter in the prior year, the company posted $2.73 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Lowe’s Companies updated its FY23 guidance to $13.65-13.80 EPS.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $1.64 during trading hours on Friday, reaching $210.04. 118,896 shares of the stock were exchanged, compared to its average volume of 3,914,382. The firm has a market capitalization of $130.37 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 1.20 and a beta of 1.15. Lowe’s Companies has a 52 week low of $170.12 and a 52 week high of $263.31. The stock’s fifty day simple moving average is $193.60 and its 200 day simple moving average is $192.46.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.00%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 41.14%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LOW shares. Wells Fargo & Company boosted their target price on Lowe’s Companies from $220.00 to $245.00 in a research note on Wednesday, August 17th. StockNews.com started coverage on Lowe’s Companies in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. TheStreet raised Lowe’s Companies from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Cowen assumed coverage on Lowe’s Companies in a research note on Wednesday, October 19th. They issued a “market perform” rating and a $210.00 target price for the company. Finally, BNP Paribas cut Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price objective for the company. in a research report on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.38.

Hedge Funds Weigh In On Lowe’s Companies

A number of large investors have recently made changes to their positions in the company. Mather Group LLC. raised its holdings in shares of Lowe’s Companies by 2.8% during the first quarter. Mather Group LLC. now owns 1,939 shares of the home improvement retailer’s stock valued at $392,000 after acquiring an additional 52 shares during the last quarter. Roundview Capital LLC raised its holdings in shares of Lowe’s Companies by 0.9% during the first quarter. Roundview Capital LLC now owns 7,614 shares of the home improvement retailer’s stock valued at $1,540,000 after acquiring an additional 67 shares during the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Lowe’s Companies by 14.3% during the second quarter. Atlas Capital Advisors LLC now owns 544 shares of the home improvement retailer’s stock valued at $95,000 after acquiring an additional 68 shares during the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of Lowe’s Companies by 1.9% during the first quarter. Douglass Winthrop Advisors LLC now owns 3,726 shares of the home improvement retailer’s stock valued at $753,000 after acquiring an additional 71 shares during the last quarter. Finally, Axiom Financial Strategies LLC raised its holdings in shares of Lowe’s Companies by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after acquiring an additional 123 shares during the last quarter. Institutional investors own 74.04% of the company’s stock.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

See Also

Earnings History for Lowe's Companies (NYSE:LOW)

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