Citigroup Trims Lowe’s Companies (NYSE:LOW) Target Price to $240.00

Lowe’s Companies (NYSE:LOW) had its target price reduced by Citigroup from $243.00 to $240.00 in a research report released on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the home improvement retailer’s stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler increased their price target on Lowe’s Companies from $218.00 to $245.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. UBS Group raised their price target on shares of Lowe’s Companies from $250.00 to $270.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. StockNews.com downgraded shares of Lowe’s Companies from a buy rating to a hold rating in a research report on Wednesday, February 28th. Morgan Stanley increased their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus dropped their target price on Lowe’s Companies from $240.00 to $225.00 and set a hold rating on the stock in a research report on Friday, February 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of Hold and an average price target of $252.67.

Lowe’s Companies Price Performance

NYSE:LOW opened at $235.03 on Tuesday. The company has a market cap of $134.48 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.75 and a beta of 1.15. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $262.49. The stock’s 50 day simple moving average is $239.77 and its two-hundred day simple moving average is $221.86.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.09. Lowe’s Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion for the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, analysts anticipate that Lowe’s Companies will post 12.21 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.87%. Lowe’s Companies’s payout ratio is presently 33.43%.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors have recently modified their holdings of LOW. Wetzel Investment Advisors Inc. acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Tidemark LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Orion Capital Management LLC purchased a new position in Lowe’s Companies during the 3rd quarter worth $26,000. Finally, Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at about $35,000. Institutional investors and hedge funds own 74.06% 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.