Lowe’s Companies (NYSE:LOW) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Lowe’s Companies (NYSE:LOW) from a buy rating to a hold rating in a research note published on Tuesday morning.

Several other research analysts have also commented on the company. Royal Bank of Canada reissued a sector perform rating and set a $246.00 price objective on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Gordon Haskett reiterated a hold rating and set a $245.00 target price on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Zelman & Associates reissued a neutral rating and set a $265.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Oppenheimer restated a market perform rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Monday, March 4th. Finally, Mizuho started coverage on Lowe’s Companies in a research report on Tuesday, March 19th. They set a buy rating and a $280.00 price objective for the company. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $251.33.

Lowe’s Companies Stock Down 0.1 %

LOW stock opened at $227.62 on Tuesday. The firm has a market cap of $129.71 billion, a PE ratio of 18.28, a P/E/G ratio of 1.74 and a beta of 1.08. The business has a 50 day moving average of $226.22 and a 200-day moving average of $227.64. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.67 EPS. On average, research analysts expect that Lowe’s Companies will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.26%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s payout ratio is 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

A number of large investors have recently made changes to their positions in LOW. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the third quarter worth about $26,000. Tidemark LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $28,000. Finally, Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.