Lowe’s Companies (NYSE:LOW) Releases FY 2024 Earnings Guidance

Lowe’s Companies (NYSE:LOW) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 11.800-11.900 for the period, compared to the consensus earnings per share estimate of 11.900. The company issued revenue guidance of $83.0 billion-$83.5 billion, compared to the consensus revenue estimate of $83.3 billion.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $246.84 on Friday. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The firm has a market capitalization of $139.38 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The business’s 50 day simple moving average is $261.51 and its 200-day simple moving average is $252.88.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.86%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LOW shares. StockNews.com downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Truist Financial reduced their target price on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Mizuho lifted their target price on Lowe’s Companies from $282.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.85.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% 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.