Analysts Expect Lowe’s Companies, Inc. (NYSE:LOW) Will Post Quarterly Sales of $26.87 Billion

Equities research analysts expect Lowe’s Companies, Inc. (NYSE:LOW) to report sales of $26.87 billion for the current quarter, according to Zacks. Eight analysts have issued estimates for Lowe’s Companies’ earnings, with estimates ranging from $25.53 billion to $27.88 billion. Lowe’s Companies reported sales of $27.30 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The company is expected to issue its next quarterly earnings report on Wednesday, August 18th.

According to Zacks, analysts expect that Lowe’s Companies will report full-year sales of $91.63 billion for the current year, with estimates ranging from $89.24 billion to $94.89 billion. For the next fiscal year, analysts expect that the firm will post sales of $91.85 billion, with estimates ranging from $84.32 billion to $98.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Lowe’s Companies.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, May 18th. The home improvement retailer reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.63. The firm had revenue of $24.42 billion during the quarter, compared to analysts’ expectations of $22.91 billion. Lowe’s Companies had a net margin of 7.23% and a return on equity of 296.41%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share.

A number of brokerages recently weighed in on LOW. Robert W. Baird lifted their price objective on shares of Lowe’s Companies from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 20th. Citigroup lifted their price objective on shares of Lowe’s Companies from $195.00 to $239.00 in a report on Tuesday, May 4th. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Credit Suisse Group boosted their price target on shares of Lowe’s Companies from $188.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, May 25th. Finally, Royal Bank of Canada boosted their price target on shares of Lowe’s Companies from $234.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, May 20th. Five research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $199.55.

Shares of LOW stock traded down $1.82 during trading on Friday, reaching $188.78. The company’s stock had a trading volume of 3,883,742 shares, compared to its average volume of 4,086,823. The company has a quick ratio of 0.37, a current ratio of 1.17 and a debt-to-equity ratio of 49.23. The firm has a market cap of $133.45 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The company has a 50-day simple moving average of $197.22. Lowe’s Companies has a 1-year low of $123.09 and a 1-year high of $215.22.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 4th. Investors of record on Wednesday, July 21st will be given a $0.80 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, July 20th. This represents a $3.20 annualized dividend and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio is 27.09%.

In related news, EVP Seemantini Godbole sold 15,234 shares of the company’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $190.77, for a total value of $2,906,190.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Segment Wealth Management LLC raised its position in Lowe’s Companies by 2.6% during the 1st quarter. Segment Wealth Management LLC now owns 1,964 shares of the home improvement retailer’s stock worth $374,000 after buying an additional 50 shares during the last quarter. AlphaStar Capital Management LLC raised its position in Lowe’s Companies by 1.0% during the 1st quarter. AlphaStar Capital Management LLC now owns 5,138 shares of the home improvement retailer’s stock worth $977,000 after buying an additional 52 shares during the last quarter. Northstar Group Inc. raised its position in Lowe’s Companies by 2.3% during the 1st quarter. Northstar Group Inc. now owns 2,291 shares of the home improvement retailer’s stock worth $436,000 after buying an additional 52 shares during the last quarter. Bluesphere Advisors LLC raised its position in Lowe’s Companies by 2.1% during the 1st quarter. Bluesphere Advisors LLC now owns 2,597 shares of the home improvement retailer’s stock worth $494,000 after buying an additional 53 shares during the last quarter. Finally, Aries Wealth Management raised its position in Lowe’s Companies by 1.2% during the 1st quarter. Aries Wealth Management now owns 4,806 shares of the home improvement retailer’s stock worth $969,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 73.57% 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 and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

See Also: Accumulation/Distribution

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Earnings History and Estimates for Lowe`s Companies (NYSE:LOW)

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