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

Lowe's Companies (NYSE:LOW - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 12.000-12.300 for the period, compared to the consensus 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

Several brokerages have recently weighed in on LOW. UBS Group lifted their target price on shares of Lowe's Companies from $250.00 to $270.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Wedbush increased their target price on Lowe's Companies from $215.00 to $250.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. StockNews.com lowered Lowe's Companies from a buy rating to a hold rating in a research note on Wednesday, February 28th. Robert W. Baird upgraded Lowe's Companies from an average rating to an outperform rating and set a $250.00 price target on the stock in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lowe's Companies from $265.00 to $268.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies currently has a consensus rating of Hold and a consensus target price of $252.67.

Lowe's Companies Trading Down 1.9 %

Shares of NYSE:LOW traded down $4.35 during trading on Tuesday, hitting $224.82. 5,394,968 shares of the company's stock were exchanged, compared to its average volume of 2,442,197. The firm has a 50-day moving average price of $238.10 and a two-hundred day moving average price of $224.74. Lowe's Companies has a 1-year low of $181.85 and a 1-year high of $262.49. The firm has a market cap of $128.64 billion, a P/E ratio of 17.08, a PEG ratio of 1.71 and a beta of 1.15.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe's Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The company had revenue of $21.36 billion during the quarter, compared to analysts' expectations of $21.14 billion. During the same quarter in the previous year, the company posted $3.67 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts predict that Lowe's Companies will post 12.21 EPS for the current year.

Lowe's Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $4.40 annualized dividend and a dividend yield of 1.96%. Lowe's Companies's payout ratio is currently 33.43%.

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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