Evercore ISI Lowers Lowe's Companies (NYSE:LOW) Price Target to $275.00

Lowe's Companies (NYSE:LOW - Free Report) had its price target lowered by Evercore ISI from $280.00 to $275.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an in-line rating on the home improvement retailer's stock.

LOW has been the subject of several other research reports. Gordon Haskett restated a hold rating and issued a $245.00 target price on shares of Lowe's Companies in a research note on Wednesday, April 3rd. Wedbush raised their price target on Lowe's Companies from $215.00 to $250.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. DA Davidson reiterated a neutral rating and issued a $270.00 price objective on shares of Lowe's Companies in a research report on Wednesday, March 27th. StockNews.com cut Lowe's Companies from a buy rating to a hold rating in a research note on Wednesday, February 28th. Finally, Piper Sandler upped their price target on Lowe's Companies from $218.00 to $245.00 and gave the stock an overweight rating in a research note on Tuesday, January 16th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Lowe's Companies has a consensus rating of Hold and an average target price of $252.52.

Lowe's Companies Trading Down 0.7 %

Shares of LOW stock traded down $1.70 on Tuesday, hitting $228.31. 2,200,935 shares of the stock were exchanged, compared to its average volume of 2,567,834. The firm has a market capitalization of $130.63 billion, a PE ratio of 17.35, a P/E/G ratio of 1.72 and a beta of 1.13. Lowe's Companies has a one year low of $181.85 and a one year high of $262.49. The firm's 50 day moving average is $239.15 and its two-hundred day moving average is $218.31.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The firm's quarterly revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts expect that Lowe's Companies will post 12.21 earnings per share for the current year.

Lowe's Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, April 23rd. Lowe's Companies's dividend payout ratio is presently 33.43%.

Institutional Investors Weigh In On Lowe's Companies

Several institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its stake in shares of Lowe's Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer's stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $1,638,746,000. Northern Trust Corp lifted its stake in shares of Lowe's Companies by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer's stock worth $1,483,733,000 after acquiring an additional 78,901 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Lowe's Companies by 27.6% during the 4th quarter. Legal & General Group Plc now owns 5,209,241 shares of the home improvement retailer's stock worth $1,159,315,000 after acquiring an additional 1,127,790 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in shares of Lowe's Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer's stock worth $1,012,147,000 after acquiring an additional 5,075,327 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

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.