Lowe’s Companies, Inc. (NYSE:LOW) has been assigned a consensus recommendation of “Buy” from the twenty-eight research firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $122.83.
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A number of brokerages recently commented on LOW. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price objective (up from $120.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Morgan Stanley upped their price objective on Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. ValuEngine lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Piper Jaffray Companies upgraded Lowe’s Companies from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $113.00 to $130.00 in a research note on Tuesday, October 15th. Finally, Wells Fargo & Co upped their price objective on Lowe’s Companies from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday.
Shares of LOW stock traded up $1.28 on Thursday, reaching $113.95. 262,672 shares of the stock were exchanged, compared to its average volume of 2,992,201. The stock has a market cap of $86.92 billion, a PE ratio of 22.17, a P/E/G ratio of 1.48 and a beta of 1.29. Lowe’s Companies has a one year low of $84.75 and a one year high of $118.23. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19. The stock has a 50 day moving average price of $110.68 and a 200 day moving average price of $105.71.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The business had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts expect that Lowe’s Companies will post 5.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 42.80%.
In related news, CAO Matthew V. Hollifield sold 12,136 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the sale, the chief accounting officer now owns 28,017 shares of the company’s stock, valued at $3,147,429.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Weber sold 12,589 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $112.62, for a total value of $1,417,773.18. Following the completion of the sale, the executive vice president now directly owns 17,440 shares in the company, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC raised its holdings in shares of Lowe’s Companies by 6,680.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after purchasing an additional 6,219,346 shares during the period. Viking Global Investors LP acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $139,358,000. Prudential PLC raised its position in shares of Lowe’s Companies by 456.1% in the second quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock valued at $123,440,000 after buying an additional 1,002,390 shares during the last quarter. Eaton Vance Management raised its position in shares of Lowe’s Companies by 49.9% in the second quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock valued at $238,844,000 after buying an additional 788,392 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in shares of Lowe’s Companies by 3,951.6% in the second quarter. Nomura Holdings Inc. now owns 658,582 shares of the home improvement retailer’s stock valued at $67,380,000 after buying an additional 642,327 shares during the last quarter. 76.35% of the stock is currently owned by hedge funds and other institutional investors.
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 lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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