Lowe’s Companies (NYSE:LOW) Given New $240.00 Price Target at Citigroup

Lowe’s Companies (NYSE:LOW) had its price target cut by Citigroup from $243.00 to $240.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the home improvement retailer’s stock.

Other equities analysts have also issued reports about the company. Morgan Stanley upped their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Robert W. Baird raised shares of Lowe’s Companies from an average rating to an outperform rating and set a $250.00 target price on the stock in a research note on Wednesday, February 14th. Stifel Nicolaus cut their price target on shares of Lowe’s Companies from $240.00 to $225.00 and set a hold rating for the company in a research note on Friday, February 16th. Wells Fargo & Company raised their price objective on shares of Lowe’s Companies from $235.00 to $250.00 and gave the company an overweight rating in a research report on Tuesday, February 13th. Finally, Evercore ISI cut their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $252.67.

Lowe’s Companies Stock Down 0.1 %

LOW stock opened at $231.45 on Tuesday. The stock has a 50-day simple moving average of $240.00 and a two-hundred day simple moving average of $221.68. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market capitalization of $132.43 billion, a PE ratio of 17.59, a PEG ratio of 1.72 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.68 by $0.09. The company had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. Lowe’s Companies’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. On average, equities research analysts anticipate that Lowe’s Companies will post 12.21 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s payout ratio is currently 33.43%.

Institutional Investors Weigh In On Lowe’s Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies in the fourth quarter worth about $25,000. Orion Capital Management LLC bought a new stake in shares of Lowe’s Companies during the third quarter valued at approximately $26,000. Tidemark LLC purchased a new stake in Lowe’s Companies in the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the fourth quarter worth $28,000. Finally, Transcendent Capital Group LLC purchased a new position in Lowe’s Companies during the fourth quarter valued at $31,000. 74.06% 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. 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.