Lowe’s Companies (NYSE:LOW) Receives New Coverage from Analysts at BNP Paribas

BNP Paribas initiated coverage on shares of Lowe’s Companies (NYSE:LOW) in a research report sent to investors on Monday, Briefing.com reports. The firm issued a neutral rating and a $159.00 price target on the home improvement retailer’s stock.

LOW has been the subject of a number of other reports. Nomura Instinet increased their price target on shares of Lowe’s Companies from $130.00 to $146.00 and gave the stock a buy rating in a research note on Tuesday, June 23rd. Piper Sandler raised their target price on shares of Lowe’s Companies from $170.00 to $185.00 in a research note on Thursday, August 20th. Jefferies Financial Group raised their target price on shares of Lowe’s Companies from $193.00 to $205.00 in a research note on Wednesday, August 26th. Goldman Sachs Group raised their target price on shares of Lowe’s Companies from $149.00 to $176.00 and gave the company a buy rating in a research note on Thursday, August 20th. Finally, Barclays raised their target price on shares of Lowe’s Companies from $150.00 to $180.00 and gave the company an overweight rating in a research note on Thursday, August 20th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $166.82.

Lowe’s Companies stock opened at $168.54 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 4.64. The firm has a 50-day moving average of $162.07 and a 200-day moving average of $129.89. The firm has a market cap of $127.37 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.19 and a beta of 1.48. Lowe’s Companies has a 1-year low of $60.00 and a 1-year high of $171.72.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.95 by $0.80. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The company had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. During the same period in the prior year, the firm earned $2.15 earnings per share. Lowe’s Companies’s revenue was up 30.1% on a year-over-year basis. Research analysts forecast that Lowe’s Companies will post 8.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.40 annualized dividend and a yield of 1.42%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.55. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.46%.

In other news, EVP Ross W. Mccanless sold 62,838 shares of Lowe’s Companies stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the transaction, the executive vice president now owns 72,967 shares in the company, valued at approximately $12,282,535.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

Several institutional investors have recently modified their holdings of LOW. Public Employees Retirement Association of Colorado boosted its stake in shares of Lowe’s Companies by 3.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 144,989 shares of the home improvement retailer’s stock worth $12,476,000 after acquiring an additional 5,436 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Lowe’s Companies by 14.1% during the 1st quarter. Victory Capital Management Inc. now owns 558,297 shares of the home improvement retailer’s stock valued at $48,041,000 after buying an additional 69,171 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Lowe’s Companies by 25.6% during the 1st quarter. Westpac Banking Corp now owns 95,650 shares of the home improvement retailer’s stock valued at $8,231,000 after buying an additional 19,500 shares in the last quarter. ETF Managers Group LLC lifted its stake in shares of Lowe’s Companies by 11.4% during the 1st quarter. ETF Managers Group LLC now owns 2,535 shares of the home improvement retailer’s stock valued at $225,000 after buying an additional 260 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of Lowe’s Companies by 24.8% during the 1st quarter. Arkadios Wealth Advisors now owns 1,226 shares of the home improvement retailer’s stock valued at $105,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Analyst Recommendations for Lowe`s Companies (NYSE:LOW)

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