Lowe’s Companies, Inc. (NYSE:LOW – Get Free Report)’s share price traded down 0.4% on Thursday after Gordon Haskett lowered their price target on the stock from $245.00 to $240.00. Gordon Haskett currently has a hold rating on the stock. Lowe’s Companies traded as low as $239.71 and last traded at $241.35. 228,054 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,525,877 shares. The stock had previously closed at $242.37.
Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. UBS Group raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson dropped their price objective on 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. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $252.96.
Institutional Trading of Lowe’s Companies
Institutional investors and hedge funds have recently modified their holdings of the business. Tidemark LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth $31,000. Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Lowe’s Companies Trading Down 0.8 %
The business’s fifty day moving average price is $231.18 and its 200-day moving average price is $232.26. The company has a market capitalization of $136.95 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.85 and a beta of 1.07.
Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.56 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.
Lowe’s Companies Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.
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.