Lowe’s Companies, Inc. (LOW) to Issue Quarterly Dividend of $1.15 on November 6th

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, August 30th, RTT News reports. Shareholders of record on Wednesday, October 23rd will be paid a dividend of 1.15 per share by the home improvement retailer on Wednesday, November 6th. This represents a $4.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15.

Lowe’s Companies has increased its dividend payment by an average of 24.1% annually 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 36.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $12.73 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 36.1%.

Lowe’s Companies Trading Up 0.1 %

LOW stock opened at $281.64 on Monday. The company’s 50 day moving average is $257.37 and its 200 day moving average is $238.75. The stock has a market cap of $160.49 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies has a 1-year low of $181.85 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies will post 11.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LOW shares. Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Morgan Stanley increased their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.42.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.