Lowe’s Companies, Inc. (LOW) Declares $0.41 Quarterly Dividend
Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, August 18th, RTT News reports. Stockholders of record on Wednesday, October 25th will be given a dividend of 0.41 per share by the home improvement retailer on Wednesday, November 8th. This represents a $1.64 annualized dividend and a dividend yield of 2.23%.
Lowe’s Companies has raised its dividend by an average of 22.8% per year over the last three years and has raised its dividend every year for the last 54 years. Lowe’s Companies has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $5.29 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 31.0%.
Lowe’s Companies (LOW) traded down 0.65% during midday trading on Friday, hitting $73.64. The stock had a trading volume of 5,092,174 shares. The stock has a market cap of $62.17 billion, a PE ratio of 23.09 and a beta of 1.08. Lowe’s Companies has a one year low of $64.87 and a one year high of $86.25. The firm has a 50 day moving average price of $76.56 and a 200 day moving average price of $79.46. Lowe’s Companies also was the target of unusually large options trading activity on Tuesday. Traders acquired 23,265 call options on the company. This is an increase of 109% compared to the typical daily volume of 11,139 call options.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The company had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. During the same period last year, the company posted $0.87 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that Lowe’s Companies will post $4.62 EPS for the current year.
LOW has been the topic of a number of research reports. Vetr raised shares of Lowe’s Companies from a “strong sell” rating to a “hold” rating and set a $83.11 price target on the stock in a research note on Monday, April 24th. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Credit Suisse Group set a $94.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $89.00 price target on shares of Lowe’s Companies in a research note on Friday, May 5th. Finally, Jefferies Group LLC upped their price target on shares of Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $85.63.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the 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 in the company, valued at $3,024,823.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.
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About Lowe’s Companies
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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