Lowe’s Companies (NYSE:LOW) Trading Down 2.4%

Lowe’s Companies, Inc. (NYSE:LOW)’s share price dropped 2.4% during mid-day trading on Wednesday . The stock traded as low as $240.00 and last traded at $241.41. Approximately 342,837 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,494,233 shares. The stock had previously closed at $247.38.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LOW. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Truist Financial increased their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Stock Performance

The stock has a market cap of $139.63 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The stock’s 50-day simple moving average is $237.82 and its two-hundred day simple moving average is $234.40.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the business posted $4.56 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.87%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently added to or reduced their stakes in the company. 9258 Wealth Management LLC lifted its position in Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 474 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of Lowe’s Companies by 10.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after buying an additional 138 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Lowe’s Companies by 8.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,818 shares of the home improvement retailer’s stock worth $6,413,000 after acquiring an additional 2,304 shares during the period. Advisor OS LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $226,000. Finally, Quotient Wealth Partners LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at about $402,000. 74.06% of the stock is 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.