Lowe’s Companies (NYSE:LOW) Releases FY 2024 Earnings Guidance

Lowe’s Companies (NYSE:LOW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 12.000-12.300 for the period, compared to the consensus earnings per share estimate of 12.190. The company issued revenue guidance of $84.0 billion-$85.0 billion, compared to the consensus revenue estimate of $84.4 billion. Lowe’s Companies also updated its FY25 guidance to $12.00-12.30 EPS.

Analyst Ratings Changes

A number of research firms have commented on LOW. DA Davidson reduced their target price on Lowe’s Companies from $270.00 to $240.00 and set a neutral rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated a sector perform rating and set a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday. Citigroup reduced their price target on shares of Lowe’s Companies from $243.00 to $240.00 and set a neutral rating on the stock in a research report on Tuesday, May 7th. Evercore ISI dropped their price objective on shares of Lowe’s Companies from $255.00 to $250.00 and set an in-line rating on the stock in a research note on Wednesday. Finally, Morgan Stanley upped their target price on Lowe’s Companies from $240.00 to $250.00 and gave the company an overweight rating in a report on Wednesday, February 28th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $251.33.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $221.11 on Thursday. The company has a 50 day moving average price of $237.57 and a 200 day moving average price of $224.71. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $262.49. The firm has a market capitalization of $126.52 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.74 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. Lowe’s Companies’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.67 earnings per share. Equities analysts forecast that Lowe’s Companies will post 12.21 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $1.10 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a yield of 1.99%. Lowe’s Companies’s dividend payout ratio is presently 35.34%.

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.