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

Lowe’s Companies (NYSE:LOW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 11.800-11.900 for the period, compared to the consensus EPS estimate of 11.820. The company issued revenue guidance of $83.0 billion-$83.5 billion, compared to the consensus revenue estimate of $83.0 billion. Lowe’s Companies also updated its FY25 guidance to $11.80-11.90 EPS.

Lowe’s Companies Trading Up 0.9 %

NYSE:LOW opened at $265.50 on Friday. The firm has a market capitalization of $150.62 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock has a 50 day moving average of $268.56 and a 200-day moving average of $244.50. Lowe’s Companies has a 52 week low of $196.23 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. As a group, analysts predict that Lowe’s Companies will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. Lowe’s Companies’s payout ratio is currently 38.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on LOW. Royal Bank of Canada upped their target price on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday. Mizuho lifted their target price on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.