Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded down 11.8% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $95.41 and last traded at $97.94. 22,711,709 shares traded hands during trading, an increase of 392% from the average session volume of 4,617,458 shares. The stock had previously closed at $111.10.

The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.24% and a return on equity of 80.91%. The business had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $17.65 billion. During the same period in the prior year, the firm posted $1.19 EPS. Lowe’s Companies’s revenue for the quarter was up 2.2% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is presently 37.35%.

A number of research firms have recently issued reports on LOW. ValuEngine downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird reiterated an “outperform” rating and set a $127.00 price target (down from $133.00) on shares of Lowe’s Companies in a research report on Wednesday. Zacks Investment Research upgraded shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Lowe’s Companies in a research report on Friday, May 10th. Finally, Morgan Stanley lifted their price target on shares of Lowe’s Companies from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Lowe’s Companies currently has an average rating of “Buy” and a consensus price target of $114.57.

Institutional investors and hedge funds have recently modified their holdings of the business. Somerset Trust Co raised its holdings in Lowe’s Companies by 2.6% in the 4th quarter. Somerset Trust Co now owns 31,709 shares of the home improvement retailer’s stock valued at $2,929,000 after acquiring an additional 814 shares during the last quarter. F3Logic LLC acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $2,135,000. Greatmark Investment Partners Inc. raised its stake in shares of Lowe’s Companies by 24.8% in the 4th quarter. Greatmark Investment Partners Inc. now owns 63,221 shares of the home improvement retailer’s stock valued at $5,839,000 after purchasing an additional 12,550 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $1,467,000. Finally, BlackRock Inc. raised its stake in shares of Lowe’s Companies by 0.7% in the 4th quarter. BlackRock Inc. now owns 53,503,078 shares of the home improvement retailer’s stock valued at $4,941,544,000 after purchasing an additional 371,008 shares in the last quarter. Institutional investors own 76.66% of the company’s stock.

The company has a market cap of $86.74 billion, a PE ratio of 19.05, a PEG ratio of 1.27 and a beta of 1.26. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.11 and a current ratio of 0.98.

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About Lowe’s Companies (NYSE:LOW)

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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