Lowe’s Companies (NYSE:LOW) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Lowe’s Companies (NYSE:LOW) posted its quarterly earnings data on Tuesday. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14, RTT News reports. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $4.56 earnings per share. Lowe’s Companies updated its FY 2024 guidance to 11.700-11.900 EPS and its FY25 guidance to $11.70-11.90 EPS.

Lowe’s Companies Price Performance

NYSE LOW opened at $240.33 on Wednesday. The firm has a market capitalization of $136.95 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.85 and a beta of 1.07. The company’s fifty day moving average is $230.83 and its two-hundred day moving average is $232.19. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.60 annualized dividend and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Evercore ISI reduced their target price on shares of Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Finally, Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and a consensus target price of $250.19.

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.