May 16, 2022

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Lowe’s Companies, Inc. (NYSE:LOW) Given Average Rating of “Buy” by Analysts

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) has been assigned an average rating of “Buy” from the twenty-seven ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $261.64.

LOW has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Lowe’s Companies in a report on Thursday. They issued a “buy” rating for the company. Gordon Haskett decreased their price objective on shares of Lowe’s Companies from $285.00 to $255.00 in a report on Monday. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $265.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, January 18th. OTR Global raised shares of Lowe’s Companies from a “mixed” rating to a “positive” rating in a report on Tuesday, February 15th. Finally, Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, February 24th.

Shares of LOW stock traded down $10.08 during mid-day trading on Thursday, reaching $209.49. 7,090,934 shares of the company were exchanged, compared to its average volume of 4,080,048. Lowe’s Companies has a fifty-two week low of $182.08 and a fifty-two week high of $263.31. The company has a market capitalization of $138.59 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.31 and a beta of 1.34. The business’s 50 day simple moving average is $225.97 and its 200 day simple moving average is $231.76.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The home improvement retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Lowe’s Companies had a net margin of 8.77% and a negative return on equity of 551.52%. The business had revenue of $21.34 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter last year, the company earned $1.33 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts forecast that Lowe’s Companies will post 13.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 4th. Investors of record on Wednesday, April 20th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 19th. Lowe’s Companies’s payout ratio is currently 26.73%.

Lowe’s Companies declared that its board has initiated a share repurchase program on Wednesday, December 15th that permits the company to buyback $13.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Lowe’s Companies in the 4th quarter worth about $1,751,232,000. Salem Investment Counselors Inc. increased its stake in Lowe’s Companies by 1,121.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 3,302,622 shares of the home improvement retailer’s stock worth $853,662,000 after purchasing an additional 3,032,297 shares in the last quarter. Nordea Investment Management AB increased its stake in Lowe’s Companies by 96.3% in the 3rd quarter. Nordea Investment Management AB now owns 3,380,885 shares of the home improvement retailer’s stock worth $698,964,000 after purchasing an additional 1,658,293 shares in the last quarter. Wellington Management Group LLP increased its stake in Lowe’s Companies by 35.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,093,210 shares of the home improvement retailer’s stock worth $1,033,209,000 after purchasing an additional 1,342,761 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Lowe’s Companies by 353.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 753,776 shares of the home improvement retailer’s stock worth $194,836,000 after purchasing an additional 587,676 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Lowe’s Companies (Get Rating)

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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Analyst Recommendations for Lowe's Companies (NYSE:LOW)

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