Analysts expect that Lowe’s (NYSE:LOW) will report earnings of $1.22 per share for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Lowe’s’ earnings, with the highest EPS estimate coming in at $1.28 and the lowest estimate coming in at $1.13. Lowe’s posted earnings of $1.03 per share in the same quarter last year, which indicates a positive year over year growth rate of 18.4%. The firm is expected to announce its next earnings report before the market opens on Wednesday, May 23rd.
On average, analysts expect that Lowe’s will report full year earnings of $5.46 per share for the current financial year, with EPS estimates ranging from $5.36 to $5.54. For the next year, analysts expect that the company will post earnings of $6.07 per share, with EPS estimates ranging from $5.85 to $6.44. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Lowe’s.
Lowe’s (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.13). Lowe’s had a net margin of 5.02% and a return on equity of 65.17%. The company had revenue of $15.49 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis.
Several brokerages have recently issued reports on LOW. Credit Suisse Group set a $111.00 price objective on shares of Lowe’s and gave the company a “buy” rating in a research note on Monday, May 14th. JPMorgan Chase reissued a “neutral” rating and set a $100.00 price objective on shares of Lowe’s in a research note on Tuesday, March 6th. Gabelli assumed coverage on shares of Lowe’s in a report on Wednesday, April 11th. They set a “buy” rating and a $113.00 target price on the stock. Wedbush restated a “hold” rating and set a $80.00 target price (down previously from $85.00) on shares of Lowe’s in a report on Thursday, March 1st. Finally, Royal Bank of Canada reduced their target price on shares of Lowe’s to $102.00 and set an “outperform” rating on the stock in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $99.00.
Shares of Lowe’s opened at $87.39 on Friday, according to Marketbeat. Lowe’s has a 52-week low of $70.76 and a 52-week high of $108.98. The firm has a market cap of $71.66 billion, a PE ratio of 19.91, a P/E/G ratio of 0.91 and a beta of 1.33. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.11.
Lowe’s declared that its Board of Directors has approved a share repurchase program on Friday, January 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 25th were issued a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, April 24th. This represents a $1.64 dividend on an annualized basis and a yield of 1.88%. Lowe’s’s dividend payout ratio is currently 37.36%.
A number of hedge funds have recently modified their holdings of the business. Almanack Investment Partners LLC. acquired a new stake in shares of Lowe’s in the 4th quarter valued at about $106,000. ClariVest Asset Management LLC acquired a new stake in shares of Lowe’s in the 1st quarter valued at about $118,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of Lowe’s in the 1st quarter valued at about $121,000. Truewealth LLC acquired a new stake in shares of Lowe’s in the 4th quarter valued at about $128,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Lowe’s in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer 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 and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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