Wall Street analysts expect Lowe’s Companies, Inc. (NYSE:LOW) to post $15.73 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Lowe’s Companies’ earnings, with the highest sales estimate coming in at $15.96 billion and the lowest estimate coming in at $15.53 billion. Lowe’s Companies reported sales of $15.49 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 27th.
On average, analysts expect that Lowe’s Companies will report full year sales of $71.40 billion for the current year, with estimates ranging from $71.19 billion to $71.62 billion. For the next financial year, analysts forecast that the company will post sales of $72.61 billion, with estimates ranging from $72.02 billion to $73.27 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Lowe’s Companies.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.06. The company had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $17.36 billion. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. Lowe’s Companies’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share.
LOW has been the topic of several analyst reports. Wells Fargo & Co reiterated a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, September 13th. Jefferies Financial Group set a $126.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Monday, November 5th. Loop Capital set a $130.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, October 24th. Goldman Sachs Group set a $125.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Friday, September 28th. Finally, SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, September 28th. Ten investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.92.
In other news, Director Brian C. Rogers bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were bought at an average cost of $88.02 per share, for a total transaction of $880,200.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $880,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of LOW. United Bank lifted its position in shares of Lowe’s Companies by 8.9% in the second quarter. United Bank now owns 19,528 shares of the home improvement retailer’s stock worth $1,866,000 after buying an additional 1,603 shares in the last quarter. Janus Henderson Group PLC increased its stake in Lowe’s Companies by 34.4% during the second quarter. Janus Henderson Group PLC now owns 337,769 shares of the home improvement retailer’s stock worth $32,286,000 after acquiring an additional 86,538 shares during the last quarter. Gabelli Funds LLC increased its stake in Lowe’s Companies by 32.2% during the second quarter. Gabelli Funds LLC now owns 119,000 shares of the home improvement retailer’s stock worth $11,373,000 after acquiring an additional 29,000 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Lowe’s Companies by 23.9% during the second quarter. Envestnet Asset Management Inc. now owns 75,222 shares of the home improvement retailer’s stock worth $7,189,000 after acquiring an additional 14,512 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in Lowe’s Companies by 9.5% during the second quarter. Commonwealth Bank of Australia now owns 111,940 shares of the home improvement retailer’s stock worth $10,690,000 after acquiring an additional 9,702 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.
NYSE LOW opened at $93.87 on Wednesday. The firm has a market cap of $74.16 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.28 and a beta of 1.35. The company has a current ratio of 1.00, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. Lowe’s Companies has a fifty-two week low of $81.16 and a fifty-two week high of $117.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.05%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.
About Lowe’s Companies
Lowe’s Cos., Inc engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodeling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors.
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