Wedbush analyst Seth Basham has reiterated a Neutral rating on Lowe’s Companies (NYSE: LOW) and increased the price target to $250. This adjustment suggests a positive outlook on the company’s potential growth.
On the other hand, UBS has raised Lowe’s Companies’ price target to $270 from $250 while maintaining a Buy rating. The average 12-month price target for LOW stands at $244.17, with a high estimate of $289 and a low of $229.37.
Benzinga also reports a price target of $258.00 for Lowe’s Companies, predicting a potential 9.70% upside within the next year. These diverse price targets and ratings highlight the varying perspectives on Lowe’s future performance in the market.
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Date: February 28, 2024
Lowes Companies Inc. (LOW) Stock Soars on Positive Market Performance and Investor Confidence
On February 28, 2024, Lowe’s Companies Inc. (LOW) experienced a positive day in the stock market, with the stock trading near the top of its 52-week range and above its 200-day simple moving average. The stock closed at $235.56, marking a $4.24 increase since the previous market close, representing a 1.83% rise in value.
Following the market close, LOW continued to show strength in after-hours trading, with the stock rising an additional $0.14. This continued upward momentum suggests that investors are bullish on LOW’s prospects and are willing to pay a premium for the stock.
LOW’s strong performance on February 28th can be attributed to several factors. The company may have reported positive earnings or announced new initiatives that have resonated with investors. Additionally, LOW’s position near the top of its 52-week range indicates that the stock has been performing well over the past year, further bolstering investor confidence.
Overall, LOW’s stock performance on February 28, 2024, demonstrates the company’s resilience and attractiveness to investors.
LOW Stock Performance Declines in Q4 2024: Revenue Down 11.01%
On February 28, 2024, LOW stock experienced a decline in performance based on the latest financial data provided by CNN Money. The company’s total revenue for the past year was reported at $86.38 billion, showing a decrease of 11.01% compared to the previous year. Additionally, the total revenue for the fourth quarter stood at $18.60 billion, remaining flat compared to the previous quarter.
Despite the decrease in total revenue, LOW saw an increase in net income for the past year, with a reported figure of $7.75 billion. This represents a significant increase of 20.73% compared to the previous year. However, the net income for the fourth quarter was reported at $1.02 billion, indicating a decrease of 42.17% compared to the previous quarter.
Earnings per share (EPS) also showed a mixed performance for LOW stock. The EPS for the past year was reported at $13.20, showing an increase of 29.77% compared to the previous year. However, the EPS for the fourth quarter was reported at $1.77, indicating a decrease of 42.31% compared to the previous quarter.
