Brokerages forecast that Lowe’s Companies, Inc. (NYSE:LOW) will report $20.99 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Lowe’s Companies’ earnings, with the highest sales estimate coming in at $21.20 billion and the lowest estimate coming in at $20.78 billion. Lowe’s Companies reported sales of $20.89 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.5%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, August 28th.
According to Zacks, analysts expect that Lowe’s Companies will report full year sales of $72.47 billion for the current fiscal year, with estimates ranging from $71.98 billion to $72.84 billion. For the next fiscal year, analysts anticipate that the company will post sales of $74.92 billion, with estimates ranging from $73.96 billion to $75.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Lowe’s Companies.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). The firm had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share.
LOW stock traded up $2.53 during mid-day trading on Friday, reaching $107.40. The company had a trading volume of 4,814,200 shares, compared to its average volume of 4,744,660. The company has a quick ratio of 0.24, a current ratio of 1.09 and a debt-to-equity ratio of 6.37. The firm has a market capitalization of $80.70 billion, a PE ratio of 20.89, a P/E/G ratio of 1.31 and a beta of 1.36. Lowe’s Companies has a one year low of $84.75 and a one year high of $118.23. The business has a 50-day moving average price of $98.98.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 37.35%.
In other news, insider Marvin R. Ellison bought 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $95.05 per share, with a total value of $950,500.00. Following the completion of the acquisition, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Frieson bought 2,030 shares of the stock in a transaction that occurred on Wednesday, June 19th. The shares were purchased at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the acquisition, the executive vice president now owns 10,980 shares of the company’s stock, valued at $1,083,616.20. The disclosure for this purchase can be found here. Insiders have bought 12,280 shares of company stock worth $1,174,566 over the last three months. Corporate insiders own 0.07% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LOW. Kaizen Advisory LLC grew its holdings in Lowe’s Companies by 13.6% during the fourth quarter. Kaizen Advisory LLC now owns 2,226 shares of the home improvement retailer’s stock worth $206,000 after acquiring an additional 266 shares during the period. Buckingham Capital Management Inc. grew its holdings in Lowe’s Companies by 9.1% during the fourth quarter. Buckingham Capital Management Inc. now owns 3,928 shares of the home improvement retailer’s stock worth $363,000 after acquiring an additional 328 shares during the period. Comerica Securities Inc. grew its holdings in Lowe’s Companies by 6.3% during the fourth quarter. Comerica Securities Inc. now owns 13,753 shares of the home improvement retailer’s stock worth $1,270,000 after acquiring an additional 818 shares during the period. Highstreet Asset Management Inc. grew its holdings in Lowe’s Companies by 7.2% during the fourth quarter. Highstreet Asset Management Inc. now owns 31,515 shares of the home improvement retailer’s stock worth $2,911,000 after acquiring an additional 2,122 shares during the period. Finally, Armor Investment Advisors LLC grew its holdings in Lowe’s Companies by 1.7% during the fourth quarter. Armor Investment Advisors LLC now owns 31,220 shares of the home improvement retailer’s stock worth $2,883,000 after acquiring an additional 531 shares during the period. 76.79% of the stock is currently owned by hedge funds and other institutional investors.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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