Lowe’s Companies (NYSE:LOW) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Lowe’s Companies (NYSE:LOW) from a buy rating to a hold rating in a report issued on Thursday morning.

Other analysts have also recently issued research reports about the stock. DA Davidson lowered their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a neutral rating for the company in a research report on Wednesday, May 22nd. Zelman & Associates restated a neutral rating and issued a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Royal Bank of Canada reiterated a sector perform rating and issued a $246.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Wedbush reissued a neutral rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a hold rating in a research report on Monday, May 13th. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of Hold and a consensus price target of $250.04.

Lowe’s Companies Price Performance

NYSE LOW opened at $240.06 on Thursday. Lowe’s Companies has a one year low of $181.85 and a one year high of $262.49. The stock’s 50 day simple moving average is $223.76 and its 200 day simple moving average is $229.23. The firm has a market cap of $136.80 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.08.

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 company had revenue of $21.36 billion during the quarter, compared to analysts’ expectations of $21.14 billion. During the same quarter in the previous year, the company earned $3.67 EPS. Lowe’s Companies’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies will post 12.23 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. Lowe’s Companies’s payout ratio is 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at $25,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at about $28,000. Keener Financial Planning LLC bought a new position in Lowe’s Companies in the first quarter valued at about $35,000. Finally, Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth about $31,000. 74.06% of the stock is currently 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.