Lowe’s Companies (NYSE:LOW) Trading Down 1.4%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price dropped 1.4% during trading on Monday . The stock traded as low as $229.44 and last traded at $232.50. Approximately 578,313 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,519,092 shares. The stock had previously closed at $235.83.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LOW shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Stifel Nicolaus lifted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Truist Financial decreased their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $250.19.

Lowe’s Companies Stock Performance

The company has a market capitalization of $131.64 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company has a 50-day moving average price of $227.92 and a 200-day moving average price of $231.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.67 EPS. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.26%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $24,091,000. Perigon Wealth Management LLC grew its position in Lowe’s Companies by 18.6% in the fourth quarter. Perigon Wealth Management LLC now owns 3,724 shares of the home improvement retailer’s stock valued at $829,000 after purchasing an additional 584 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in Lowe’s Companies by 3.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 7,781 shares of the home improvement retailer’s stock valued at $1,732,000 after buying an additional 268 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Lowe’s Companies during the 4th quarter worth about $7,767,000. Finally, Carnegie Capital Asset Management LLC boosted its stake in shares of Lowe’s Companies by 2.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 145,221 shares of the home improvement retailer’s stock worth $32,319,000 after buying an additional 3,609 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

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.