92.11 0.00 (0.00%)
After hours: 4:58PM EST
|Bid||91.80 x 900|
|Ask||92.39 x 1200|
|Day's Range||87.67 - 93.74|
|52 Week Range||81.16 - 117.70|
|Beta (3Y Monthly)||2.03|
|PE Ratio (TTM)||20.53|
|Earnings Date||Feb 27, 2019|
|Forward Dividend & Yield||1.92 (2.11%)|
|1y Target Est||110.79|
Moody's Investors Service ("Moody's") today downgraded the senior unsecured ratings of Lowe's Companies, Inc. and Lowe's Companies Canada, ULC ("Lowes") to Baa1 from A3. In addition, Moody's affirmed Lowe's Companies, Inc.'s Prime-2 short-term commercial paper rating. The rating actions follow Lowes recent announcement that it intends to materially increase its return to shareholders and raise its targeted leverage ratio to 2.75x from 2.25x at a time when it continues to experience operational challenges.
Marvin Ellison and his staff of seven C-level Lowe's executives outlined a long list of changes and improvements planned for Lowe’s during an analysts and investors conference Wednesday at the Mooresville headquarters.
Cos. plans to increase its share buyback program by $10 billion, as the home-improvement retailer looks to turn investor sentiment and prove to Wall Street its business and growth plans are on solid footing. The $10 billion would be added to the $4.5 billion available as of Nov. 2 for buying back shares, Lowe’s said Wednesday at an investor conference. The announcement prompted S&P Global Ratings to cut Lowe’s credit rating to triple-B plus from A-minus, citing a less conservative financial policy from the retailer to raise shareholder returns.
Today, during its annual meeting with investors, Lowe’s Company (LOW) reiterated the guidance for 2018 that it had provided in its third-quarter earnings release on November 20. The company also provided guidance for 2019 and announced a new share repurchase program of $10 billion with no expiration date. The new buyback program is an addition to the company’s existing program, which had a balance of $4.5 billion as of November 2.
jumped 4% Wednesday after the company reiterated its 2018 financial forecast and said its board approved a $10 billion stock buyback plan. Lowe's, which has been on a cost-cutting spree and has shut underperforming stores, was meeting with analysts and investors in its hometown of Mooresville, North Carolina on Wednesday. "We have substantially completed a detailed reassessment of our business and are diligently implementing process and technology improvements that are rooted in the fundamentals of retail and designed to position Lowe's to win in today's complex retail environment," said Lowe's President and CEO Marvin R. Ellison.
Lowe's has been shutting underperforming stores and cutting back on slow-moving inventory, an attempt by new Chief Executive Officer Marvin Ellison to address investor concerns over its inability to compete with Home Depot Inc. The company's share buyback plan is in addition to the $4.5 billion remaining as part of its previous repurchase program. Lowe's retained its 2018 forecast sales growth of about 4 percent, while analysts were expecting a 4.11 percent rise.
U.S. home improvement chain Lowe's Cos Inc on Wednesday forecast comparable store sales for fiscal year 2019 that fell short of Wall Street expectations. It expects comparable store sales growth of about ...
Lowe's during its annual investor day announces a $10 billion stock buyback program. The home improvement retailer issues its financial targets for fiscal 2019. Lowe's reiterates its profit outlook for fiscal 2018.
MOORESVILLE, N.C., Dec. 12, 2018 /PRNewswire/ -- Lowe's Companies, Inc. (LOW) is meeting today with analysts and investors in Mooresville, North Carolina to discuss its strategic priorities and near- and long-term financial targets.
Lowe’s says it will close 47 underperforming stores and 4 other locations, including 20 stores in the U.S., as part of its plan to focus on its most profitable stores.
The US home-improvement retailer forecast adjusted earnings per share of $6 to $6.10 for the fiscal year ending on January 31, 2020. Lowe’s also said it sees total sales increasing 2 per cent in fiscal 2019, lower than the 2.4 per cent growth expected by analysts. Lowe’s affirmed its 2018 full-year guidance, which it cut in November after posting a sharp decline in third-quarter earnings.
Housing worries finally have hit Home Depot (NYSE:HD). Since then, however, Home Depot stock has fallen nearly 20% as investors worry that even the industry’s leader isn’t immune to the slowdown. Home Depot, meanwhile, is the easiest and potentially best play on renovation spend.
Charlotte and the greater North Carolina economy saw steady growth in 2018, but changes are looming as the labor force tightens and economic growth slows.