Lowe’s Companies (NYSE:LOW) Issues 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LOW shares. Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Truist Financial increased their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

Lowe’s Companies Price Performance

NYSE:LOW opened at $259.23 on Wednesday. The company’s fifty day moving average price is $267.97 and its 200-day moving average price is $244.23. Lowe’s Companies has a 1-year low of $196.23 and a 1-year high of $287.01. 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 announced 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. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.56 EPS. Equities analysts anticipate that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend 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 was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

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.