Lowe’s Companies, Inc. (LOW) to Issue Quarterly Dividend of $1.15 on May 7th

Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 23rd will be given a dividend of 1.15 per share by the home improvement retailer on Wednesday, May 7th. This represents a $4.60 annualized dividend and a dividend yield of 2.03%.

Lowe’s Companies has increased its dividend payment by an average of 14.9% annually over the last three years and has raised its dividend annually for the last 53 consecutive years. Lowe’s Companies has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $12.54 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 36.7%.

Lowe’s Companies Stock Performance

LOW opened at $227.09 on Friday. The firm’s fifty day moving average is $247.99 and its 200 day moving average is $257.79. Lowe’s Companies has a fifty-two week low of $211.80 and a fifty-two week high of $287.01. The stock has a market cap of $128.23 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. On average, equities research analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current year.

Analysts Set New Price Targets

LOW has been the subject of several recent analyst reports. BNP Paribas upgraded shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Evercore ISI upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a report on Thursday, December 12th. Sanford C. Bernstein lifted their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Truist Financial cut their price target on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Bank of America reduced their target price on shares of Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.83.

Institutional Investors Weigh In On Lowe’s Companies

An institutional investor recently raised its position in Lowe’s Companies stock. Revolve Wealth Partners LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 31.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,078 shares of the home improvement retailer’s stock after acquiring an additional 259 shares during the period. Revolve Wealth Partners LLC’s holdings in Lowe’s Companies were worth $266,000 at the end of the most recent reporting period. 74.06% of the stock is currently owned by institutional investors.

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.