Lowe’s Companies (NYSE:LOW) issued its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11), Briefing.com reports. The business had revenue of $17.74 billion for the quarter, compared to analyst estimates of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.19 earnings per share. Lowe’s Companies updated its FY 2019 guidance to $5.45-5.65 EPS and its FY20 guidance to $5.45-5.65 EPS.
Shares of NYSE:LOW traded up $1.01 during trading hours on Friday, hitting $99.63. 4,294,703 shares of the company’s stock traded hands, compared to its average volume of 4,844,423. Lowe’s Companies has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 6.37. The firm has a market cap of $78.00 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.55 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $2.20 annualized dividend and a dividend yield of 2.21%. Lowe’s Companies’s dividend payout ratio (DPR) is 37.35%.
In other Lowe’s Companies news, insider Marvin R. Ellison acquired 10,000 shares of Lowe’s Companies stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the transaction, the insider now owns 80,090 shares in the company, valued at approximately $7,612,554.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.07% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in Lowe’s Companies by 8,621.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,673,178 shares of the home improvement retailer’s stock valued at $191,000 after acquiring an additional 17,470,536 shares in the last quarter. Lunia Capital LP raised its position in Lowe’s Companies by 18,944.2% during the fourth quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock valued at $15,741,000 after acquiring an additional 15,658,352 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies during the fourth quarter valued at approximately $734,285,000. Jennison Associates LLC raised its position in Lowe’s Companies by 333.2% during the first quarter. Jennison Associates LLC now owns 4,387,794 shares of the home improvement retailer’s stock valued at $480,332,000 after acquiring an additional 3,374,970 shares in the last quarter. Finally, FMR LLC raised its position in Lowe’s Companies by 9.2% during the fourth quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock valued at $2,206,843,000 after acquiring an additional 2,014,183 shares in the last quarter. Institutional investors own 76.85% of the company’s stock.
LOW has been the topic of a number of analyst reports. Loop Capital increased their price objective on shares of Lowe’s Companies from $99.00 to $102.00 and gave the stock a “hold” rating in a report on Wednesday, February 27th. Robert W. Baird increased their price objective on shares of Lowe’s Companies from $120.00 to $126.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Wedbush increased their target price on shares of Lowe’s Companies from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Finally, Morgan Stanley increased their target price on shares of Lowe’s Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 28th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $113.48.
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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