Lowe’s (NYSE:LOW) announced a quarterly dividend on Friday, March 23rd, RTT News reports. Shareholders of record on Wednesday, April 25th will be paid a dividend of 0.41 per share by the home improvement retailer on Wednesday, May 9th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, April 24th.
Lowe’s has raised its dividend payment by an average of 22.8% annually over the last three years and has increased its dividend annually for the last 55 consecutive years. Lowe’s has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s to earn $6.11 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 26.8%.
Shares of LOW opened at $83.62 on Monday. Lowe’s has a 52-week low of $70.76 and a 52-week high of $108.98. The firm has a market capitalization of $69,404.60, a price-to-earnings ratio of 19.05, a P/E/G ratio of 0.88 and a beta of 1.32. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.06 and a quick ratio of 0.11.
Lowe’s announced that its Board of Directors has initiated a share repurchase program on Friday, January 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
LOW has been the subject of a number of recent research reports. Loop Capital initiated coverage on Lowe’s in a research note on Thursday, March 1st. They issued a “hold” rating and a $88.00 target price for the company. BMO Capital Markets reiterated a “hold” rating and set a $95.00 price target (up from $82.00) on shares of Lowe’s in a report on Thursday, March 1st. Telsey Advisory Group upgraded Lowe’s from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $83.00 to $124.00 in a report on Thursday, January 25th. Credit Suisse Group reiterated an “outperform” rating and set a $111.00 price target on shares of Lowe’s in a report on Monday, March 5th. Finally, Sanford C. Bernstein upgraded Lowe’s from an “underperform” rating to an “outperform” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $98.44.
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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer 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 and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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