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

Lowe’s Companies (NYSE:LOW) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 11.800-11.900 for the period, compared to the consensus EPS estimate of 11.900. The company issued revenue guidance of $83.0 billion-$83.5 billion, compared to the consensus revenue estimate of $83.3 billion.

Lowe’s Companies Trading Down 1.3 %

Shares of NYSE LOW opened at $246.46 on Wednesday. Lowe’s Companies has a twelve month low of $209.55 and a twelve month high of $287.01. The firm has a 50-day moving average of $262.10 and a two-hundred day moving average of $252.97. The company has a market capitalization of $139.16 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Bank of America upped their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Evercore ISI raised their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Finally, Stifel Nicolaus boosted their target price on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.85.

Insider Buying and Selling

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% 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. 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.