Lowe’s Companies (NYSE:LOW) Stock Price Down 0.4%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price dropped 0.4% during mid-day trading on Monday . The company traded as low as $242.34 and last traded at $242.73. Approximately 390,171 shares changed hands during trading, a decline of 84% from the average daily volume of 2,501,054 shares. The stock had previously closed at $243.81.

Analysts Set New Price Targets

LOW has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Evercore ISI upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Finally, UBS Group upped their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

The company’s 50-day simple moving average is $237.82 and its 200-day simple moving average is $234.40. The stock has a market capitalization of $140.97 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.00 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 (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the company posted $4.56 EPS. The company’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Institutional Investors Weigh In On Lowe’s Companies

Several large investors have recently modified their holdings of LOW. Tidemark LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies in the fourth quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $31,000. Stephens Consulting LLC increased its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC bought a new stake in Lowe’s Companies in the first quarter valued at $35,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.