Lowe’s Companies (NYSE:LOW) Reports Quarterly Earnings, Beats Expectations with $0.14 EPS

VaselineAugust 20, 2024

0 2 minutes read

Lowe's Companies logo Lowe’s Companies (NYSE:LOW – Get Your Free Report ) released its earnings results on Tuesday. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14, RTT News reports. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. In the same quarter last year, the company posted earnings per share of $4.56. The company’s quarterly revenue was down 5.5% year over year. Lowe’s Companies updated its FY 2024 guidance to $11,700-$11,900 EPS and FY25 guidance to $11.70-$11.90 EPS.

Lowe’s Companies rose 0.8%

Shares of LOW opened at $243.19 on Tuesday. The company’s 50-day moving average price is $230.39, and its two-hundred-day moving average price is $232.04. Lowe’s Companies has a 12-month low of $181.85 and a 12-month high of $262.49. The firm has a market cap of $138.58 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies is cutting dividends

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents an annualized dividend of $0.60 and a yield of 0.25%. Lowe’s Companies’ dividend payout ratio is 36.95%.

Analysts on Wall Street are forecasting an increase

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Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Lowe’s Companies from $268.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup reduced their price objective on shares of Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Truist Financial cut their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd . Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $250.19, according to MarketBeat.

Read our latest review of LOW

About Lowe’s Companies

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Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of construction, maintenance, repair, remodeling and decorating products. Also offers home improvement products such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchen and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials , decoration and electricity.