Lowe's Companies (NYSE:LOW) Sets New 52-Week Low - Here's Why

Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $218.19 and last traded at $223.58, with a volume of 3455138 shares changing hands. The stock had previously closed at $223.27.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho dropped their price objective on shares of Lowe's Companies from $305.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. DA Davidson reiterated a "neutral" rating and set a $270.00 price target on shares of Lowe's Companies in a report on Wednesday, April 16th. StockNews.com raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Truist Financial reduced their price target on Lowe's Companies from $295.00 to $258.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank of Canada cut their price objective on Lowe's Companies from $292.00 to $285.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $278.21.

Lowe's Companies Stock Performance

The firm has a 50-day moving average price of $228.01 and a two-hundred day moving average price of $249.88. The firm has a market cap of $125.14 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. The company had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lowe's Companies's dividend payout ratio is presently 37.67%.

Hedge Funds Weigh In On Lowe's Companies

A number of large investors have recently bought and sold shares of LOW. Klingenstein Fields & Co. LP increased its position in Lowe's Companies by 1.0% during the 4th quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer's stock worth $1,012,000 after purchasing an additional 39 shares during the period. Saxony Capital Management LLC raised its position in Lowe's Companies by 4.2% in the fourth quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer's stock worth $245,000 after acquiring an additional 40 shares in the last quarter. Powers Advisory Group LLC lifted its holdings in Lowe's Companies by 2.7% in the fourth quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer's stock valued at $380,000 after acquiring an additional 40 shares during the period. Gen Wealth Partners Inc boosted its position in shares of Lowe's Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after purchasing an additional 40 shares in the last quarter. Finally, Cordatus Wealth Management LLC grew its holdings in shares of Lowe's Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer's stock worth $3,705,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 74.06% 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. 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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