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

Lowe’s Companies (NYSE:LOW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.800-11.900 for the period, compared to the consensus 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. Lowe’s Companies also updated its FY25 guidance to $11.80-11.90 EPS.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $259.23 on Wednesday. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The stock’s fifty day moving average is $267.97 and its two-hundred day moving average is $244.23. The firm has a market capitalization of $147.06 billion, a P/E ratio of 21.50, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm posted $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts forecast that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on LOW shares. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Piper Sandler raised their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Tuesday. Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted their target price 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. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.84.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.