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 earnings per share (EPS) guidance of 11.800-11.900 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Piper Sandler upped their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Finally, Sanford C. Bernstein boosted their target price on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Stock Performance

LOW opened at $246.84 on Thursday. Lowe’s Companies has a 1 year low of $209.55 and a 1 year high of $287.01. The firm has a 50 day moving average price of $261.81 and a 200 day moving average price of $252.92. The company has a market cap of $139.38 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a yield of 1.86%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.