Research Analysts Issue Forecasts for Lowe's Companies, Inc.’s FY2019 Earnings (LOW)
Lowe's Companies, Inc. (NYSE:LOW) – Equities researchers at Wedbush cut their FY2019 earnings per share estimates for shares of Lowe's Companies in a report released on Thursday. Wedbush analyst S. Basham now forecasts that the home improvement retailer will earn $5.43 per share for the year, down from their prior estimate of $5.61. Wedbush has a “Hold” rating and a $80.00 price objective on the stock.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a research note on Friday, December 22nd. Barclays raised shares of Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 5th. Sanford C. Bernstein raised shares of Lowe's Companies from an “underperform” rating to an “outperform” rating in a research note on Monday, January 22nd. Piper Jaffray Companies reissued a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a research note on Friday, November 24th. Finally, Robert W. Baird reissued a “buy” rating and set a $110.00 target price on shares of Lowe's Companies in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $97.52.
Lowe's Companies (NYSE:LOW) last released its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The company had revenue of $15.49 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Lowe's Companies had a return on equity of 65.17% and a net margin of 5.02%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS.
Lowe's Companies declared that its Board of Directors has approved a stock repurchase program on Friday, January 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. Atlantic Trust LLC purchased a new stake in shares of Lowe's Companies in the 2nd quarter valued at approximately $105,000. Almanack Investment Partners LLC. acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $106,000. Stonehearth Capital Management LLC acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $112,000. Truewealth LLC acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $128,000. Finally, Cerebellum GP LLC acquired a new position in shares of Lowe's Companies in the 4th quarter worth approximately $129,000. 73.78% of the stock is owned by institutional investors and hedge funds.
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About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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