Lowe’s Companies (NYSE:LOW) Updates FY 2024 Earnings Guidance

Lowe’s Companies (NYSE:LOW) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 12.000-12.300 for the period, compared to the consensus EPS estimate of 12.190. The company issued revenue guidance of $84.0 billion-$85.0 billion, compared to the consensus revenue estimate of $84.4 billion. Lowe’s Companies also updated its FY25 guidance to $12.00-12.30 EPS.

Analyst Upgrades and Downgrades

A number of research firms have commented on LOW. UBS Group upped their price target on Lowe’s Companies from $250.00 to $270.00 and gave the company a buy rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on Lowe’s Companies from $265.00 to $268.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. DA Davidson reaffirmed a neutral rating and set a $270.00 price target on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Stifel Nicolaus upped their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company a hold rating in a research report on Monday, May 13th. Finally, Telsey Advisory Group reaffirmed a market perform rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday. Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $252.67.

Lowe’s Companies Trading Down 1.9 %

Shares of LOW opened at $224.82 on Wednesday. The business’s fifty day simple moving average is $238.10 and its two-hundred day simple moving average is $224.74. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a market cap of $128.64 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.69 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period last year, the business posted $3.67 EPS. The company’s revenue was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that Lowe’s Companies will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.96%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 33.43%.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.