Lowe's Companies, Inc. (NYSE:LOW) Declares Quarterly Dividend of $1.10

Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) announced a quarterly dividend on Friday, March 22nd, RTT News reports. Shareholders of record on Wednesday, April 24th will be given a dividend of 1.10 per share by the home improvement retailer on Wednesday, May 8th. This represents a $4.40 annualized dividend and a yield of 1.70%.

Lowe's Companies has increased its dividend payment by an average of 24.1% per year over the last three years and has raised its dividend annually for the last 52 consecutive years. Lowe's Companies has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lowe's Companies to earn $13.45 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 32.7%.

Lowe's Companies Trading Down 1.0 %

Lowe's Companies stock traded down $2.53 during mid-day trading on Friday, hitting $258.47. The company had a trading volume of 2,493,226 shares, compared to its average volume of 2,610,981. Lowe's Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The company's fifty day moving average is $229.36 and its 200-day moving average is $215.46. The company has a market capitalization of $148.65 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.86 and a beta of 1.13.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.09. Lowe's Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm had revenue of $18.60 billion for the quarter, compared to analyst estimates of $18.47 billion. During the same quarter last year, the firm posted $2.28 EPS. The business's revenue was down 17.1% on a year-over-year basis. As a group, sell-side analysts expect that Lowe's Companies will post 12.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Aspect Partners LLC purchased a new stake in Lowe's Companies in the 4th quarter worth about $32,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $35,000. O Dell Group LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $38,000. True Wealth Design LLC acquired a new stake in shares of Lowe's Companies in the fourth quarter worth $42,000. Finally, Covestor Ltd lifted its stake in shares of Lowe's Companies by 74.6% in the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer's stock worth $60,000 after buying an additional 126 shares during the last quarter. 71.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on Lowe's Companies from $199.00 to $236.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 21st. Morgan Stanley raised their target price on Lowe's Companies from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on Lowe's Companies from $238.00 to $262.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Mizuho assumed coverage on Lowe's Companies in a report on Tuesday. They set a "buy" rating and a $280.00 target price for the company. Finally, StockNews.com downgraded shares of Lowe's Companies from a "buy" rating to a "hold" rating in a research note on Wednesday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus target price of $248.12.

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.

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