Lowe’s Companies (NYSE:LOW) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Lowe’s Companies (NYSE:LOWGet Rating) posted its quarterly earnings results on Wednesday. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08, RTT News reports. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The company had revenue of $27.48 billion for the quarter, compared to analyst estimates of $28.16 billion. During the same quarter in the previous year, the firm posted $4.25 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Lowe’s Companies updated its FY23 guidance to $13.10-13.60 EPS and its FY 2022 guidance to $13.10-$13.60 EPS.

Lowe’s Companies Trading Down 2.1 %

NYSE LOW traded down $4.64 during trading on Friday, hitting $211.83. The company had a trading volume of 47,030 shares, compared to its average volume of 3,921,598. Lowe’s Companies has a one year low of $170.12 and a one year high of $263.31. The company has a market cap of $135.39 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25. The company’s fifty day moving average is $187.78 and its 200-day moving average is $202.42.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Shareholders of record on Wednesday, July 20th were issued a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, July 19th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.80. This represents a $4.20 annualized dividend and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio is 33.10%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Axiom Financial Strategies LLC increased its stake in Lowe’s Companies by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after purchasing an additional 123 shares in the last quarter. United Bank increased its stake in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after purchasing an additional 617 shares in the last quarter. Prudential PLC bought a new stake in Lowe’s Companies during the 1st quarter valued at about $1,629,000. Baird Financial Group Inc. increased its stake in Lowe’s Companies by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after purchasing an additional 920 shares in the last quarter. Finally, Covestor Ltd increased its stake in Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after purchasing an additional 126 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LOW has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley decreased their target price on shares of Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Piper Sandler increased their price target on shares of Lowe’s Companies to $246.00 and gave the stock an “underweight” rating in a report on Thursday, May 19th. DA Davidson increased their price target on shares of Lowe’s Companies from $225.00 to $247.00 in a report on Thursday. Finally, Wedbush increased their price target on shares of Lowe’s Companies from $200.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.15.

About Lowe’s Companies

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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, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.

Further Reading

Earnings History for Lowe's Companies (NYSE:LOW)

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