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

Lowe’s Companies (NYSE:LOW) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 11.800-11.900 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

LOW has been the topic of a number of research reports. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. DA Davidson upped their price target on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays raised their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI boosted their price target on shares of 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. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $246.46 on Wednesday. The stock has a market capitalization of $139.16 billion, a PE ratio of 20.56, a PEG ratio of 2.20 and a beta of 1.11. The business’s 50 day simple moving average is $262.10 and its 200 day simple moving average is $252.97. Lowe’s Companies has a one year low of $209.55 and a one year high of $287.01.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid 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 dividend payout ratio is presently 38.37%.

Insider Activity

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on 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 completion of the sale, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

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.