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

by · The Cerbat Gem

Lowe’s Companies (NYSE:LOW – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 11.800-11.900 for the period, compared to the consensus EPS estimate of 11.900. The company issued revenue guidance of $83.0 billion-$83.5 billion, compared to the consensus revenue estimate of $83.3 billion.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOW. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Truist Financial dropped their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. DA Davidson increased their target price on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $301.00 to $304.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Read Our Latest Research Report on LOW

Lowe’s Companies Stock Performance

LOW opened at $246.46 on Wednesday. Lowe’s Companies has a one year low of $209.55 and a one year high of $287.01. The stock has a market capitalization of $139.16 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The business’s 50-day simple moving average is $262.10 and its 200-day simple moving average is $252.97.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Company Profile

(Get Free Report)

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.

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