Lowe’s Companies (NYSE:LOW) Stock Price Down 1%

Lowe’s Companies, Inc. (NYSE:LOW)’s share price was down 1% during trading on Thursday . The stock traded as low as $242.06 and last traded at $243.05. Approximately 291,298 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,506,494 shares. The stock had previously closed at $245.45.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. DA Davidson cut their target price on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company lowered their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Bank of America cut their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Stock Down 0.1 %

The business’s 50 day simple moving average is $236.53 and its 200 day simple moving average is $234.09. The stock has a market cap of $138.93 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.04 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $4.56 earnings per share. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.89%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Drive Wealth Management LLC raised its position in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares in the last quarter. Crown Wealth Group LLC raised its position in shares of Lowe’s Companies by 4.4% in the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after acquiring an additional 45 shares in the last quarter. BLB&B Advisors LLC raised its position in shares of Lowe’s Companies by 2.2% in the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after acquiring an additional 45 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its position in shares of Lowe’s Companies by 3.5% in the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.