The Lowe’s Companies, Inc. (LOW) Shares Gap Down Following Weak Earnings

The Lowe’s Companies, Inc. (LOW) Shares Gap Down  Following Weak Earnings

The home improvement retailer reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by $0.03. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The business had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year.

Shares of Lowe's Companies, Inc. (NYSE:LOW) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $85.35, but opened at $82.34. Lowe's Companies shares last traded at $79.85, with a volume of 18,998,602 shares.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.04%. This is a boost from Lowe's Companies’s previous quarterly dividend of $0.35. Lowe's Companies’s payout ratio is 51.28%. LOW has been the subject of several recent research reports. Vetr cut shares of Lowe's Companies from a “hold” rating to a “sell” rating and set a $83.11 target price for the company. in a research report on Monday, May 8th. Credit Suisse Group AG set a $94.00 price objective on shares of Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, April 18th. Sanford C. Bernstein began coverage on shares of Lowe's Companies in a research report on Monday, February 6th. They issued an “underperform” rating and a $66.00 price objective for the company. Finally, Wedbush restated a “neutral” rating and issued a $77.00 price objective on shares of Lowe's Companies in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $85.63.

In other news, insider Paul D. Ramsay sold 30,638 shares of Lowe's Companies stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $80.84, for a total transaction of $2,476,775.92. Following the transaction, the insider now owns 10,960 shares in the company, valued at $886,006.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard D. Maltsbarger sold 11,672 shares of Lowe's Companies stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now owns 37,716 shares in the company, valued at approximately $3,024,823.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 519,162 shares of company stock worth $42,100,116. 0.39% of the stock is owned by company insiders. Institutional investors have recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in shares of Lowe's Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares in the last quarter. Washington Trust Bank increased its position in shares of Lowe's Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Lowe's Companies during the first quarter valued at $103,000. State of Alaska Department of Revenue bought a new stake in Lowe's Companies during the first quarter valued at $109,000. Finally, Hanson McClain Inc. increased its stake in Lowe's Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the period. 74.46% of the stock is owned by institutional investors and hedge funds.

About Lowe's Companies Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LOW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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