Lowe’s Companies (NYSE:LOW) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Lowe’s Companies (NYSE:LOW) in a report published on Wednesday, Benzinga reports. They currently have a $246.00 price objective on the home improvement retailer’s stock.

A number of other equities analysts have also commented on LOW. Morgan Stanley raised their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. UBS Group raised their price target on Lowe’s Companies from $250.00 to $270.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Robert W. Baird raised shares of Lowe’s Companies from an average rating to an outperform rating and set a $250.00 price objective for the company in a research report on Wednesday, February 14th. Oppenheimer reissued a market perform rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Monday, March 4th. Finally, Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $235.00 to $250.00 and gave the stock an overweight rating in a report on Tuesday, February 13th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $251.33.

Lowe’s Companies Stock Performance

LOW opened at $215.21 on Wednesday. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The company has a market capitalization of $123.14 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.67 and a beta of 1.15. The stock has a fifty day moving average of $236.44 and a 200-day moving average of $225.02.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The business’s revenue was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies will post 12.22 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 2.04%. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Lowe’s Companies by 8.9% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,715 shares of the home improvement retailer’s stock valued at $564,000 after purchasing an additional 222 shares during the period. SageView Advisory Group LLC grew its position in shares of Lowe’s Companies by 2.4% in the 3rd quarter. SageView Advisory Group LLC now owns 3,212 shares of the home improvement retailer’s stock valued at $668,000 after buying an additional 74 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 511.5% in the third quarter. HHM Wealth Advisors LLC now owns 318 shares of the home improvement retailer’s stock valued at $66,000 after buying an additional 266 shares during the period. Winthrop Advisory Group LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at about $238,000. Finally, NBC Securities Inc. bought a new position in shares of Lowe’s Companies during the third quarter worth about $3,719,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

About Lowe’s Companies

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.