Lowe’s Companies’ (LOW) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Lowe’s Companies (NYSE:LOW) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $246.00 price target on the home improvement retailer’s stock.

Several other equities research analysts have also recently commented on LOW. Wells Fargo & Company boosted their price target on Lowe’s Companies from $235.00 to $250.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Zelman & Associates reaffirmed a neutral rating and issued a $265.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Morgan Stanley increased their target price on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. Finally, Citigroup lowered their price objective on Lowe’s Companies from $243.00 to $240.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $251.33.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $215.21 on Wednesday. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market cap of $123.14 billion, a PE ratio of 17.29, a P/E/G ratio of 1.67 and a beta of 1.15. The firm’s 50 day moving average price is $236.44 and its two-hundred day moving average price is $225.02.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion for the quarter, compared to analysts’ expectations of $21.14 billion. During the same period in the previous year, the company posted $3.67 EPS. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. Equities analysts anticipate that Lowe’s Companies will post 12.22 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.04%. The ex-dividend date was Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is 35.34%.

Institutional Investors Weigh In On Lowe’s Companies

Large investors have recently made changes to their positions in the company. Cetera Advisors LLC boosted its position in Lowe’s Companies by 105.2% in the first quarter. Cetera Advisors LLC now owns 131,064 shares of the home improvement retailer’s stock valued at $33,386,000 after buying an additional 67,193 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Lowe’s Companies by 180.8% in the 1st quarter. Cetera Investment Advisers now owns 247,721 shares of the home improvement retailer’s stock worth $63,102,000 after acquiring an additional 159,502 shares in the last quarter. PGGM Investments grew its position in Lowe’s Companies by 4.0% during the 1st quarter. PGGM Investments now owns 42,591 shares of the home improvement retailer’s stock worth $10,849,000 after acquiring an additional 1,645 shares during the last quarter. Second Line Capital LLC increased its holdings in Lowe’s Companies by 3.9% during the 1st quarter. Second Line Capital LLC now owns 3,356 shares of the home improvement retailer’s stock valued at $855,000 after purchasing an additional 126 shares in the last quarter. Finally, Swedbank AB bought a new position in Lowe’s Companies in the 1st quarter valued at $79,366,000. Institutional investors own 74.06% of the company’s stock.

About Lowe’s Companies

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.