Citigroup Trims Lowe's Companies (NYSE:LOW) Target Price to $240.00

Lowe's Companies (NYSE:LOW - Free Report) had its target price reduced by Citigroup from $243.00 to $240.00 in a research report released on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the home improvement retailer's stock.

LOW has been the subject of several other reports. Telsey Advisory Group restated a market perform rating and issued a $230.00 target price on shares of Lowe's Companies in a research note on Wednesday, March 27th. Piper Sandler lifted their price target on Lowe's Companies from $218.00 to $245.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. Stifel Nicolaus cut their price target on Lowe's Companies from $240.00 to $225.00 and set a hold rating for the company in a research note on Friday, February 16th. Royal Bank of Canada lifted their price target on Lowe's Companies from $190.00 to $246.00 and gave the company a sector perform rating in a research note on Wednesday, February 28th. Finally, Gordon Haskett reiterated a hold rating and set a $245.00 price target on shares of Lowe's Companies in a research note on Wednesday, April 3rd. Fifteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Lowe's Companies has a consensus rating of Hold and an average target price of $252.67.

Lowe's Companies Stock Performance

Shares of LOW stock traded down $0.25 during mid-day trading on Tuesday, hitting $231.45. The company's stock had a trading volume of 1,912,237 shares, compared to its average volume of 2,453,542. The company's fifty day simple moving average is $240.08 and its 200-day simple moving average is $221.40. Lowe's Companies has a 52 week low of $181.85 and a 52 week high of $262.49. The company has a market cap of $132.43 billion, a PE ratio of 17.63, a P/E/G ratio of 1.72 and a beta of 1.15.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $18.47 billion. Lowe's Companies had a negative return on equity of 51.42% and a net margin of 8.94%. The firm's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.28 EPS. On average, equities analysts anticipate that Lowe's Companies will post 12.21 earnings per share for the current year.

Lowe's Companies Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, April 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.90%. Lowe's Companies's payout ratio is 33.43%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOW. Mackenzie Financial Corp increased its holdings in shares of Lowe's Companies by 0.7% in the third quarter. Mackenzie Financial Corp now owns 104,649 shares of the home improvement retailer's stock worth $20,947,000 after purchasing an additional 770 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Lowe's Companies by 5.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,575 shares of the home improvement retailer's stock worth $36,919,000 after acquiring an additional 9,625 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Lowe's Companies by 7.4% in the third quarter. Chicago Partners Investment Group LLC now owns 2,582 shares of the home improvement retailer's stock worth $537,000 after acquiring an additional 177 shares in the last quarter. Park Avenue Securities LLC grew its position in Lowe's Companies by 1.0% in the third quarter. Park Avenue Securities LLC now owns 12,207 shares of the home improvement retailer's stock worth $2,537,000 after acquiring an additional 118 shares in the last quarter. Finally, Rockland Trust Co. grew its position in Lowe's Companies by 7.3% in the third quarter. Rockland Trust Co. now owns 5,192 shares of the home improvement retailer's stock worth $1,079,000 after acquiring an additional 351 shares in the last quarter. 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.