Lowe's Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, March 24th. Shareholders of record on Wednesday, April 26th will be paid a dividend of 0.35 per share by the home improvement retailer on Wednesday, May 10th. This represents a $1.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, April 24th.
Lowe's Companies has increased its dividend by an average of 22.8% annually over the last three years and has raised its dividend annually for the last 54 consecutive years. Lowe's Companies has a dividend payout ratio of 30.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lowe's Companies to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.5%.
Lowe's Companies (NYSE:LOW) opened at 83.29 on Friday. The firm’s 50-day moving average is $82.00 and its 200-day moving average is $74.42. The company has a market capitalization of $71.41 billion, a PE ratio of 24.00 and a beta of 1.28. Lowe's Companies has a 12 month low of $64.87 and a 12 month high of $84.00.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The business earned $15.78 billion during the quarter, compared to analysts’ expectations of $15.39 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Equities analysts anticipate that Lowe's Companies will post $4.63 EPS for the current fiscal year.
In related news, SVP Matthew V. Hollifield sold 9,299 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $80.99, for a total value of $753,126.01. Following the transaction, the senior vice president now owns 28,691 shares in the company, valued at approximately $2,323,684.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nelson B. Peace sold 3,568 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $81.30, for a total value of $290,078.40. Following the completion of the transaction, the insider now owns 5,860 shares in the company, valued at approximately $476,418. The disclosure for this sale can be found here. Insiders sold a total of 520,357 shares of company stock worth $42,207,226 in the last 90 days. 0.39% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on LOW. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a research note on Thursday, January 5th. Wedbush reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Lowe's Companies in a research note on Wednesday, February 22nd. Robert W. Baird reiterated an “outperform” rating and issued a $85.00 target price on shares of Lowe's Companies in a report on Thursday, February 16th. Credit Suisse Group AG set a $83.00 target price on Lowe's Companies and gave the company a “buy” rating in a report on Thursday, March 2nd. Finally, Sanford C. Bernstein initiated coverage on Lowe's Companies in a report on Monday, February 6th. They issued an “underperform” rating and a $66.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $83.07.
About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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