Lowe’s Companies (NYSE:LOW) Announces Quarterly Earnings Results

Lowe’s Companies (NYSE:LOWGet Rating) released its quarterly earnings results on Wednesday. The home improvement retailer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.18, RTT News reports. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The company had revenue of $23.48 billion during the quarter, compared to analysts’ expectations of $23.16 billion. During the same quarter in the prior year, the company earned $2.73 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Lowe’s Companies updated its FY23 guidance to $13.65-13.80 EPS.

Lowe’s Companies Stock Up 2.0 %

Shares of LOW stock opened at $208.84 on Wednesday. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $263.31. The company has a market capitalization of $129.63 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.15. The firm has a 50 day moving average price of $193.24 and a two-hundred day moving average price of $192.19.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a yield of 2.01%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.10%.

Insider Activity

In related news, EVP Seemantini Godbole sold 11,761 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $214.37, for a total value of $2,521,205.57. Following the completion of the sale, the executive vice president now directly owns 26,575 shares in the company, valued at approximately $5,696,882.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

Institutional Trading of Lowe’s Companies

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Lowe’s Companies by 7,952.8% during the first quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock worth $320,754,000 after purchasing an additional 1,566,700 shares during the period. First Trust Advisors LP increased its stake in Lowe’s Companies by 209.0% during the 1st quarter. First Trust Advisors LP now owns 1,219,542 shares of the home improvement retailer’s stock worth $246,579,000 after acquiring an additional 824,915 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Lowe’s Companies by 2,072.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,078,468 shares of the home improvement retailer’s stock worth $218,055,000 after acquiring an additional 1,028,827 shares during the period. Mackenzie Financial Corp lifted its position in shares of Lowe’s Companies by 1.1% during the 1st quarter. Mackenzie Financial Corp now owns 560,605 shares of the home improvement retailer’s stock valued at $113,349,000 after acquiring an additional 6,286 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock worth $51,780,000 after purchasing an additional 920 shares in the last quarter. Institutional investors own 74.04% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research reports. Cowen began coverage on Lowe’s Companies in a report on Wednesday, October 19th. They set a “market perform” rating and a $210.00 target price for the company. Truist Financial increased their price objective on Lowe’s Companies from $237.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Citigroup cut their target price on Lowe’s Companies from $217.00 to $215.00 in a research note on Monday, October 31st. StockNews.com started coverage on shares of Lowe’s Companies in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, MKM Partners lowered their price objective on shares of Lowe’s Companies from $220.00 to $205.00 in a report on Wednesday, November 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $231.78.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, d├ęcor, lighting, and electrical.

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Earnings History for Lowe's Companies (NYSE:LOW)

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