Wall Street brokerages predict that Lowe's Companies, Inc. (NYSE:LOW) will post $17.68 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Lowe's Companies’ earnings. The highest sales estimate is $17.76 billion and the lowest is $17.56 billion. Lowe's Companies reported sales of $16.86 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The firm is expected to issue its next earnings results on Wednesday, May 23rd.
On average, analysts expect that Lowe's Companies will report full year sales of $71.31 billion for the current financial year, with estimates ranging from $71.00 billion to $71.77 billion. For the next financial year, analysts expect that the company will post sales of $73.98 billion per share, with estimates ranging from $73.21 billion to $75.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Lowe's Companies.
Lowe's Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.13). The firm had revenue of $15.49 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Lowe's Companies had a net margin of 5.02% and a return on equity of 65.17%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS.
Shares of Lowe's Companies stock traded down $1.86 during trading on Monday, hitting $84.55. 1,878,791 shares of the stock traded hands, compared to its average volume of 7,087,152. Lowe's Companies has a 52-week low of $70.76 and a 52-week high of $108.98. The firm has a market cap of $71,512.80, a P/E ratio of 19.24, a P/E/G ratio of 0.91 and a beta of 1.32. The company has a current ratio of 1.06, a quick ratio of 0.11 and a debt-to-equity ratio of 2.65.
Lowe's Companies announced that its board has approved a share buyback program on Friday, January 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, April 24th. Lowe's Companies’s dividend payout ratio (DPR) is 37.36%.
Institutional investors have recently added to or reduced their stakes in the stock. Glenview State Bank Trust DEPT. purchased a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $204,000. Clark Capital Management Group Inc. boosted its stake in Lowe's Companies by 10.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 11,156 shares of the home improvement retailer’s stock worth $1,037,000 after buying an additional 1,019 shares during the last quarter. Cipher Capital LP boosted its stake in Lowe's Companies by 2.8% during the third quarter. Cipher Capital LP now owns 85,803 shares of the home improvement retailer’s stock worth $6,859,000 after buying an additional 2,313 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Lowe's Companies by 9.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 243,832 shares of the home improvement retailer’s stock worth $18,628,000 after buying an additional 21,095 shares during the last quarter. Finally, Norinchukin Bank The boosted its stake in Lowe's Companies by 4.1% during the third quarter. Norinchukin Bank The now owns 129,270 shares of the home improvement retailer’s stock worth $10,334,000 after buying an additional 5,136 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.
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About Lowe's Companies
Lowe's Companies, Inc operates as a home improvement company in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal living, lawn and garden, paint, millwork, flooring, kitchens, outdoor power equipment, and home fashions.
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