Q3 2021 Earnings Estimate for Lowe’s Companies, Inc. Issued By Piper Sandler (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW) – Analysts at Piper Sandler upped their Q3 2021 earnings estimates for Lowe’s Companies in a report released on Monday, October 5th. Piper Sandler analyst P. Keith now anticipates that the home improvement retailer will post earnings of $1.99 per share for the quarter, up from their previous forecast of $1.90. Piper Sandler also issued estimates for Lowe’s Companies’ FY2021 earnings at $8.68 EPS, Q3 2022 earnings at $2.16 EPS and FY2022 earnings at $8.89 EPS.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.80. The firm had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.15 EPS.

LOW has been the topic of a number of other research reports. Robert W. Baird increased their price objective on Lowe’s Companies from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. BNP Paribas began coverage on Lowe’s Companies in a report on Monday. They set a “neutral” rating and a $159.00 price objective on the stock. Bank of America increased their target price on Lowe’s Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. BofA Securities increased their target price on Lowe’s Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wedbush increased their target price on Lowe’s Companies from $125.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $166.82.

Shares of NYSE LOW opened at $164.99 on Tuesday. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. The firm has a market cap of $124.69 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.19 and a beta of 1.48. The business’s 50-day simple moving average is $162.35 and its 200-day simple moving average is $130.25. Lowe’s Companies has a 52 week low of $60.00 and a 52 week high of $171.72.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 20th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.55. Lowe’s Companies’s dividend payout ratio (DPR) is 38.46%.

In related news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the completion of the transaction, the executive vice president now owns 72,967 shares in the company, valued at approximately $12,282,535.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Lowe’s Companies by 14.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,925 shares of the home improvement retailer’s stock valued at $1,342,000 after purchasing an additional 1,220 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Lowe’s Companies by 33.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,448 shares of the home improvement retailer’s stock valued at $465,000 after buying an additional 869 shares during the period. Wedbush Securities Inc. increased its stake in shares of Lowe’s Companies by 9.2% in the 2nd quarter. Wedbush Securities Inc. now owns 10,594 shares of the home improvement retailer’s stock valued at $1,431,000 after buying an additional 889 shares during the period. State Street Corp increased its stake in shares of Lowe’s Companies by 2.7% in the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after buying an additional 922,369 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Lowe’s Companies by 9.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 242,210 shares of the home improvement retailer’s stock valued at $32,727,000 after buying an additional 21,329 shares during the period. 74.63% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

Featured Article: What does a neutral rating on stocks mean?

Earnings History and Estimates for Lowe`s Companies (NYSE:LOW)

Receive News & Ratings for Lowe’s Companies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lowe’s Companies and related companies with MarketBeat.com’s FREE daily email newsletter.

Source Article