Lowe’s Companies (NYSE:LOW) Price Target Lowered to $225.00 at Evercore ISI

Lowe’s Companies (NYSE:LOW) had its price target lowered by Evercore ISI from $250.00 to $225.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the home improvement retailer’s stock.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock a hold rating in a research note on Monday, May 13th. StockNews.com lowered Lowe’s Companies from a buy rating to a hold rating in a research note on Tuesday, June 18th. Citigroup reduced their target price 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 lowered their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Finally, Zelman & Associates reiterated a neutral rating and issued a $265.00 price objective on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $250.41.

Lowe’s Companies Price Performance

NYSE LOW opened at $213.30 on Tuesday. The company has a market cap of $121.55 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.64 and a beta of 1.08. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $262.49. The company has a 50-day moving average of $224.22 and a 200-day moving average of $228.21.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $21.36 billion during the quarter, compared to analyst estimates of $21.14 billion. During the same quarter in the prior year, the business posted $3.67 earnings per share. Lowe’s Companies’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Lowe’s Companies will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 35.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOW. Vanguard Group Inc. boosted its position in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Morgan Stanley increased its stake in Lowe’s Companies by 1.1% during the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after buying an additional 116,855 shares during the period. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $1,638,746,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Lowe’s Companies by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after acquiring an additional 41,451 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after acquiring an additional 52,859 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

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.