Lowe's Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, March 23rd, RTT News reports. Investors of record on Wednesday, April 25th will be given a dividend of 0.41 per share by the home improvement retailer on Wednesday, May 9th. This represents a $1.64 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, April 24th.
Lowe's Companies has raised its dividend payment by an average of 22.8% per year over the last three years and has raised its dividend every year for the last 55 years. Lowe's Companies has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lowe's Companies to earn $6.11 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 26.8%.
NYSE LOW opened at $86.41 on Thursday. Lowe's Companies has a twelve month low of $70.76 and a twelve month high of $108.98. The company has a quick ratio of 0.11, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. The stock has a market cap of $71,512.80, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.91 and a beta of 1.32.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.13). The business had revenue of $15.49 billion for the quarter, compared to analyst estimates of $15.34 billion. Lowe's Companies had a return on equity of 65.17% and a net margin of 5.02%. Lowe's Companies’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. analysts expect that Lowe's Companies will post 5.47 EPS for the current year.
Lowe's Companies declared that its board has approved a stock repurchase plan on Friday, January 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
LOW has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $95.00 price target (up previously from $82.00) on shares of Lowe's Companies in a report on Thursday, March 1st. Royal Bank of Canada cut their price target on Lowe's Companies to $102.00 and set an “outperform” rating for the company in a report on Thursday, March 1st. Credit Suisse Group set a $116.00 price target on Lowe's Companies and gave the company a “buy” rating in a report on Tuesday, January 16th. JPMorgan Chase reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Lowe's Companies in a report on Tuesday, March 6th. Finally, SunTrust Banks upped their price target on Lowe's Companies from $80.00 to $90.00 and gave the company a “hold” rating in a report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $98.44.
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Lowe's Companies Company Profile
Lowe's Companies, Inc operates as a home improvement company in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal living, lawn and garden, paint, millwork, flooring, kitchens, outdoor power equipment, and home fashions.
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