Lowe’s Companies (NYSE:LOW) Price Target Cut to $275.00

Lowe’s Companies (NYSE:LOW) had its target price trimmed by Evercore ISI from $280.00 to $275.00 in a report released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the home improvement retailer’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. StockNews.com lowered shares of Lowe’s Companies from a buy rating to a hold rating in a report on Wednesday, February 28th. Stifel Nicolaus cut their target price on shares of Lowe’s Companies from $240.00 to $225.00 and set a hold rating on the stock in a research report on Friday, February 16th. Truist Financial upped their price target on shares of Lowe’s Companies from $258.00 to $271.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their target price on Lowe’s Companies from $190.00 to $246.00 and gave the stock a sector perform rating in a report on Wednesday, February 28th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $252.52.

Lowe’s Companies Price Performance

LOW opened at $230.26 on Tuesday. The business has a fifty day simple moving average of $239.62 and a 200 day simple moving average of $218.63. The company has a market capitalization of $131.75 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The company had revenue of $18.60 billion for the quarter, compared to analysts’ expectations of $18.47 billion. During the same quarter last year, the business earned $2.28 earnings per share. Lowe’s Companies’s revenue was down 17.1% on a year-over-year basis. Equities analysts anticipate that Lowe’s Companies will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.43%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares during the last quarter. Norges Bank purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at about $1,638,746,000. Northern Trust Corp lifted its position in Lowe’s Companies by 1.1% in the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after buying an additional 78,901 shares during the last quarter. Legal & General Group Plc boosted its stake in Lowe’s Companies by 27.6% in the fourth quarter. Legal & General Group Plc now owns 5,209,241 shares of the home improvement retailer’s stock worth $1,159,315,000 after buying an additional 1,127,790 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after acquiring an additional 5,075,327 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

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.