Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, August 17th, RTT News reports. Stockholders of record on Wednesday, October 24th will be paid a dividend of 0.48 per share by the home improvement retailer on Wednesday, November 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, October 23rd.
Lowe’s Companies has increased its dividend payment by an average of 22.8% annually over the last three years and has raised its dividend annually for the last 55 consecutive years. Lowe’s Companies has a dividend payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lowe’s Companies to earn $6.02 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 31.9%.
Shares of LOW stock opened at $102.44 on Thursday. Lowe’s Companies has a fifty-two week low of $75.36 and a fifty-two week high of $117.70. The stock has a market cap of $92.81 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.54 and a beta of 1.39. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06.
LOW has been the topic of a number of recent research reports. SunTrust Banks upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, September 28th. Morgan Stanley upped their target price on Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. KeyCorp reiterated an “overweight” rating and issued a $115.00 target price (up previously from $105.00) on shares of Lowe’s Companies in a research report on Tuesday, July 24th. Robert W. Baird upped their target price on Lowe’s Companies from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Finally, Royal Bank of Canada upped their target price on Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $112.67.
In related news, Director Lisa W. Wardell purchased 273 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $107.72 per share, with a total value of $29,407.56. Following the completion of the acquisition, the director now owns 273 shares of the company’s stock, valued at approximately $29,407.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the transaction, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
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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