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

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 paid a dividend of 1.15 per share by the home improvement retailer on Wednesday, May 7th. This represents a $4.60 annualized dividend 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% meaning its dividend is sufficiently covered by earnings. 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 %

LOW stock traded up $0.83 during trading hours on Friday, hitting $227.09. 6,352,702 shares of the stock traded hands, compared to its average volume of 2,540,311. The stock has a 50-day simple moving average of $248.40 and a 200 day simple moving average of $257.85. Lowe’s Companies has a one year low of $211.80 and a one year high of $287.01. The company has a market cap of $128.23 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.96 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on LOW. Royal Bank of Canada dropped their price target on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Mizuho cut their price objective on Lowe’s Companies from $305.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.83.

Hedge Funds Weigh In On Lowe’s Companies

An institutional investor recently raised its position in Lowe’s Companies stock. Brighton Jones LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 119.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,965 shares of the home improvement retailer’s stock after buying an additional 17,413 shares during the quarter. Brighton Jones LLC’s holdings in Lowe’s Companies were worth $7,889,000 at the end of the most recent quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

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.