Lowe’s Companies, Inc. (NYSE:LOW) Announces $1.15 Quarterly Dividend

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 23rd will be given a dividend of 1.15 per share by the home improvement retailer on Wednesday, May 7th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.03%.

Lowe’s Companies has raised its dividend payment by an average of 14.9% per year over the last three years and has increased its dividend annually for the last 53 consecutive years. Lowe’s Companies has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $12.54 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 36.7%.

Lowe’s Companies Trading Up 0.4 %

NYSE:LOW opened at $227.09 on Friday. The stock has a 50-day moving average price of $247.99 and a two-hundred day moving average price of $257.70. Lowe’s Companies has a 1 year low of $211.80 and a 1 year high of $287.01. The stock has a market cap of $128.23 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.96 and a beta of 1.12.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Sell-side analysts forecast that Lowe’s Companies will post 11.9 earnings per share for the current year.

Institutional Trading of Lowe’s Companies

An institutional investor recently raised its position in Lowe’s Companies stock. Revolve Wealth Partners LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 31.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,078 shares of the home improvement retailer’s stock after acquiring an additional 259 shares during the period. Revolve Wealth Partners LLC’s holdings in Lowe’s Companies were worth $266,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on shares of Lowe’s Companies from $308.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their target price on shares of Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.83.

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.