Lowe’s Companies (NYSE:LOW) Releases FY 2024 Earnings Guidance

Lowe’s Companies (NYSE:LOW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.800-11.900 for the period, compared to the consensus earnings per share estimate of 11.820. The company issued revenue guidance of $83.0 billion-$83.5 billion, compared to the consensus revenue estimate of $83.0 billion.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LOW. TD Cowen upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday, November 11th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Bank of America upped their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

LOW stock opened at $271.87 on Tuesday. The company’s 50-day simple moving average is $267.74 and its 200 day simple moving average is $244.04. Lowe’s Companies has a 52 week low of $196.23 and a 52 week high of $287.01. The company has a market capitalization of $154.23 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the company posted $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, analysts forecast that Lowe’s Companies will post 11.93 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.