Lowe’s Companies, Inc. (NYSE:LOW) announced a quarterly dividend on Friday, May 31st, RTT News reports. Investors of record on Wednesday, July 24th will be given a dividend of 0.55 per share by the home improvement retailer on Wednesday, August 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48.
Lowe’s Companies has increased its dividend payment by an average of 20.4% annually over the last three years and has raised its dividend every year for the last 56 years. Lowe’s Companies has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $6.58 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 33.4%.
LOW stock opened at $102.50 on Monday. The stock’s 50 day moving average price is $100.62. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. Lowe’s Companies has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The stock has a market capitalization of $80.25 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.36.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11). The firm had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, sell-side analysts forecast that Lowe’s Companies will post 5.59 earnings per share for the current fiscal year.
In related news, EVP Donald Frieson purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was purchased at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the acquisition, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Marvin R. Ellison acquired 10,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $95.05 per share, with a total value of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares of the company’s stock, valued at approximately $7,612,554.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 12,280 shares of company stock valued at $1,174,566. Corporate insiders own 0.07% of the company’s stock.
Several research firms have recently weighed in on LOW. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Cfra reissued a “hold” rating and issued a $105.00 price objective on shares of Lowe’s Companies in a report on Friday, June 14th. UBS Group downgraded AGL Energy to a “sell” rating in a report on Thursday, May 23rd. Finally, Gabelli reissued a “buy” rating on shares of Lowe’s Companies in a report on Thursday, May 23rd. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $112.88.
About Lowe’s Companies
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.
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