Lowe’s Companies, Inc. (LOW) Expected to Post Earnings of $2.02 Per Share

Brokerages expect Lowe’s Companies, Inc. (NYSE:LOW) to report $2.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Lowe’s Companies’ earnings, with estimates ranging from $1.92 to $2.13. Lowe’s Companies reported earnings per share of $1.57 during the same quarter last year, which would suggest a positive year over year growth rate of 28.7%. The firm is scheduled to announce its next earnings report on Wednesday, August 22nd.

According to Zacks, analysts expect that Lowe’s Companies will report full year earnings of $5.45 per share for the current year, with EPS estimates ranging from $5.34 to $5.54. For the next year, analysts expect that the firm will post earnings of $6.05 per share, with EPS estimates ranging from $5.61 to $6.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Lowe’s Companies.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The business had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. Lowe’s Companies had a net margin of 5.55% and a return on equity of 66.36%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share.

A number of research firms have recently commented on LOW. Zacks Investment Research cut shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. Wedbush set a $92.00 target price on shares of Lowe’s Companies and gave the company a “hold” rating in a report on Thursday, May 24th. Royal Bank of Canada boosted their target price on shares of Lowe’s Companies to $104.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Credit Suisse Group set a $111.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, May 23rd. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a report on Wednesday, May 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $101.93.

In other news, SVP Matthew V. Hollifield sold 12,362 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $99.56, for a total transaction of $1,230,760.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Summit X LLC boosted its holdings in Lowe’s Companies by 13.7% during the first quarter. Summit X LLC now owns 4,437 shares of the home improvement retailer’s stock worth $386,000 after buying an additional 536 shares during the last quarter. Doheny Asset Management CA boosted its holdings in Lowe’s Companies by 13.7% during the fourth quarter. Doheny Asset Management CA now owns 4,836 shares of the home improvement retailer’s stock worth $449,000 after buying an additional 582 shares during the last quarter. Marco Investment Management LLC boosted its holdings in Lowe’s Companies by 0.6% during the first quarter. Marco Investment Management LLC now owns 96,446 shares of the home improvement retailer’s stock worth $8,463,000 after buying an additional 600 shares during the last quarter. Phocas Financial Corp. boosted its holdings in Lowe’s Companies by 17.6% during the fourth quarter. Phocas Financial Corp. now owns 4,070 shares of the home improvement retailer’s stock worth $378,000 after buying an additional 610 shares during the last quarter. Finally, Cambria Investment Management L.P. boosted its holdings in Lowe’s Companies by 2.7% during the first quarter. Cambria Investment Management L.P. now owns 23,870 shares of the home improvement retailer’s stock worth $2,095,000 after buying an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Lowe’s Companies traded up $1.28, reaching $99.58, on Tuesday, according to MarketBeat. The stock had a trading volume of 5,197,633 shares, compared to its average volume of 4,005,583. Lowe’s Companies has a 12-month low of $70.76 and a 12-month high of $108.98. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.18 and a current ratio of 1.02. The stock has a market capitalization of $81.27 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.10 and a beta of 1.34.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 8th. Shareholders of record on Wednesday, July 25th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.93%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, July 24th. Lowe’s Companies’s payout ratio is 37.36%.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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