StockNews.com cut shares of Lowe's Companies (NYSE:LOW - Free Report) from a buy rating to a hold rating in a research report sent to investors on Thursday.
A number of other equities research analysts have also recently commented on the stock. Evercore ISI lifted their price target on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock an "in-line" rating in a report on Thursday, December 12th. Bank of America dropped their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, February 26th. Truist Financial lowered their price objective on Lowe's Companies from $308.00 to $295.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim reiterated a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $280.35.
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Lowe's Companies Stock Up 0.2 %
Lowe's Companies stock traded up $0.53 during mid-day trading on Thursday, reaching $223.05. 4,829,634 shares of the company's stock were exchanged, compared to its average volume of 2,435,897. The firm has a market capitalization of $124.84 billion, a PE ratio of 18.60, a P/E/G ratio of 1.96 and a beta of 1.12. The business's fifty day simple moving average is $243.17 and its 200 day simple moving average is $256.70. Lowe's Companies has a one year low of $211.80 and a one year high of $287.01.
Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion during the quarter, compared to analyst estimates of $18.29 billion. On average, sell-side analysts forecast that Lowe's Companies will post 11.9 earnings per share for the current year.
Lowe's Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 annualized dividend and a yield of 2.06%. Lowe's Companies's payout ratio is presently 37.67%.
Hedge Funds Weigh In On Lowe's Companies
A number of institutional investors have recently made changes to their positions in the stock. Quent Capital LLC increased its stake in Lowe's Companies by 1.7% in the first quarter. Quent Capital LLC now owns 4,942 shares of the home improvement retailer's stock valued at $1,153,000 after acquiring an additional 81 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Lowe's Companies by 26.1% during the 1st quarter. Versant Capital Management Inc now owns 6,610 shares of the home improvement retailer's stock valued at $1,542,000 after purchasing an additional 1,370 shares during the last quarter. Boston Common Asset Management LLC raised its holdings in shares of Lowe's Companies by 21.9% during the 1st quarter. Boston Common Asset Management LLC now owns 18,599 shares of the home improvement retailer's stock valued at $4,338,000 after buying an additional 3,341 shares in the last quarter. Trust Co of the South lifted its position in Lowe's Companies by 1.9% in the 1st quarter. Trust Co of the South now owns 6,160 shares of the home improvement retailer's stock worth $1,437,000 after buying an additional 112 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in Lowe's Companies in the fourth quarter worth approximately $67,000. Institutional investors own 74.06% of the company's stock.
About Lowe's Companies
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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.
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