Lowe’s Cos.’s (LOW) “Neutral” Rating Reaffirmed at Wedbush
Wedbush reaffirmed their neutral rating on shares of Lowe’s Cos. (NYSE:LOW) in a research note released on Wednesday. Wedbush currently has a $73.00 price objective on the home improvement retailer’s stock.
Several other research firms have also issued reports on LOW. Stifel Nicolaus started coverage on Lowe’s Cos. in a report on Tuesday, August 2nd. They set a buy rating and a $100.00 price target for the company. Vetr raised Lowe’s Cos. from a hold rating to a buy rating and set a $87.38 price objective for the company in a research note on Tuesday, August 2nd. Cantor Fitzgerald reaffirmed a buy rating and issued a $85.00 price objective (up previously from $70.00) on shares of Lowe’s Cos. in a research note on Saturday, August 13th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $89.00 price objective on shares of Lowe’s Cos. in a research note on Tuesday, August 16th. Finally, BMO Capital Markets upped their price objective on Lowe’s Cos. from $76.43 to $86.00 and gave the stock an outperform rating in a research note on Monday, August 22nd. Thirteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $81.93.
Lowe’s Cos. (NYSE:LOW) opened at 70.55 on Wednesday. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65. The company has a market capitalization of $61.59 billion, a price-to-earnings ratio of 25.90 and a beta of 1.25. The company’s 50-day moving average price is $69.10 and its 200 day moving average price is $75.55.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The company had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.86 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts expect that Lowe’s Cos. will post $3.92 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 23rd. This represents a $1.40 annualized dividend and a yield of 1.98%. Lowe’s Cos.’s dividend payout ratio (DPR) is currently 51.28%.
In related news, insider Marshall A. Croom sold 6,300 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $71.52, for a total value of $450,576.00. Following the transaction, the insider now owns 40,602 shares of the company’s stock, valued at $2,903,855.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LOW. The Manufacturers Life Insurance Company bought a new stake in shares of Lowe’s Cos. during the third quarter valued at about $435,695,000. Bank of Montreal Can bought a new stake in shares of Lowe’s Cos. during the second quarter valued at about $284,442,000. Emerald Acquisition Ltd. bought a new stake in shares of Lowe’s Cos. during the second quarter valued at about $162,367,000. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Lowe’s Cos. by 888.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,654,218 shares of the home improvement retailer’s stock valued at $119,451,000 after buying an additional 1,486,916 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock valued at $1,042,084,000 after buying an additional 1,280,426 shares during the period. 73.83% of the stock is currently owned by institutional investors.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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