Jefferies Group Analysts Boost Earnings Estimates for Lowe’s Companies, Inc. (NYSE:LOW)
Lowe’s Companies, Inc. (NYSE:LOW) – Jefferies Group lifted their Q4 2018 earnings per share estimates for shares of Lowe’s Companies in a report issued on Thursday. Jefferies Group analyst D. Binder now anticipates that the home improvement retailer will post earnings per share of $0.93 for the quarter, up from their previous forecast of $0.92. Jefferies Group has a “Hold” rating and a $89.00 price objective on the stock. Jefferies Group also issued estimates for Lowe’s Companies’ FY2019 earnings at $5.24 EPS, FY2020 earnings at $5.75 EPS, FY2021 earnings at $6.43 EPS and FY2022 earnings at $7.15 EPS.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year.
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A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday. BidaskClub raised shares of Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $87.00 price objective on shares of Lowe’s Companies in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 price objective on shares of Lowe’s Companies in a research report on Thursday, July 20th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $69.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Lowe’s Companies presently has an average rating of “Hold” and an average price target of $85.23.
Lowe’s Companies (NYSE LOW) traded up 0.32% during midday trading on Friday, hitting $77.26. 3,088,656 shares of the stock were exchanged. The firm has a market capitalization of $65.22 billion, a price-to-earnings ratio of 24.23 and a beta of 1.08. The company has a 50 day moving average price of $76.72 and a 200 day moving average price of $79.37. Lowe’s Companies has a one year low of $64.87 and a one year high of $86.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. increased its position in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. Washington Trust Bank increased its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies during the first quarter worth approximately $103,000. State of Alaska Department of Revenue bought a new position in Lowe’s Companies during the first quarter worth approximately $109,000. Finally, Hanson McClain Inc. increased its position in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. 74.70% of the stock is owned by institutional investors and hedge funds.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the sale, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, July 24th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s payout ratio is presently 51.57%.
Lowe’s Companies 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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