Lowe’s Companies (NYSE:LOW) Issues FY 2022 Earnings Guidance

Lowe’s Companies (NYSE:LOWGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $13.10-$13.60 for the period, compared to the consensus EPS estimate of $13.38. The company issued revenue guidance of $97.00 billion-$99.00 billion, compared to the consensus revenue estimate of $98.13 billion.

Shares of LOW traded up $2.00 during mid-day trading on Friday, reaching $197.53. The company had a trading volume of 83,913 shares, compared to its average volume of 4,204,345. Lowe’s Companies has a twelve month low of $179.22 and a twelve month high of $263.31. The company’s 50-day moving average is $202.09 and its 200-day moving average is $226.42. The company has a market capitalization of $130.59 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.11 and a beta of 1.25.

Lowe’s Companies (NYSE:LOWGet Rating) last issued its earnings results on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.29. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The business had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $23.72 billion. During the same period in the prior year, the firm posted $3.21 EPS. Lowe’s Companies’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts predict that Lowe’s Companies will post 13.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.13%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio (DPR) is currently 26.08%.

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on Lowe’s Companies from $292.00 to $222.00 in a report on Friday, May 13th. DA Davidson dropped their price target on Lowe’s Companies from $292.00 to $240.00 and set a buy rating for the company in a report on Thursday, May 19th. Jefferies Financial Group dropped their price target on Lowe’s Companies from $290.00 to $238.00 and set a buy rating for the company in a report on Thursday, May 19th. Evercore ISI assumed coverage on Lowe’s Companies in a research report on Tuesday, February 15th. They issued an outperform rating on the stock. Finally, Wells Fargo & Company decreased their price objective on Lowe’s Companies from $295.00 to $260.00 and set an overweight rating on the stock in a research report on Thursday, April 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of Buy and a consensus price target of $243.84.

Several hedge funds have recently made changes to their positions in LOW. Covestor Ltd grew its holdings in shares of Lowe’s Companies by 74.6% in the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after buying an additional 126 shares during the period. Worth Asset Management LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $63,000. Raleigh Capital Management Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $83,000. First Community Trust NA acquired a new position in Lowe’s Companies in the 4th quarter worth $102,000. Finally, Tobam boosted its stake in Lowe’s Companies by 111.3% in the 4th quarter. Tobam now owns 524 shares of the home improvement retailer’s stock worth $135,000 after purchasing an additional 276 shares during the period. 75.46% of the stock is owned by institutional investors.

Lowe’s Companies Company Profile (Get Rating)

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, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.

Further Reading

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

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