Company Update: Lowes Companies Inc (NYSE:LOW) – Lowe’s Holds Annual Meeting Of Shareholders

[PR Newswire] – CHARLOTTE, N.C., May 27, 2016 /PRNewswire/ — At its annual meeting of shareholders today, Lowe’s Companies, Inc. (LOW) Chairman, President and CEO Robert A. Niblock informed shareholders that strategic investments focused on long-term growth and enhancing customer experiences enabled the company to deliver strong financial performance in 2015. The company is also leveraging innovation to enrich customer experiences through new products, services and technologies, all setting the stage for future success as the economic outlook for the home improvement industry remains bright. In addition, the company announced that the board of directors has declared a 25 percent increase in its quarterly cash dividend to 35 cents per share, payable Aug. 3, 2016, to shareholders of record as of July 20, 2016. Lowe’s has declared a cash dividend every quarter since going public in 1961. Read more on this. Lowe’s Companies, Inc. (LOW) , currently valued at $71.59B, started trading this morning at $80.16. A quick look at the market, the company’s stock traded between $79.97 and $80.69 with the price of the stock fluctuating between $62.62 to $80.69 over the last 52 weeks. Priced at 19.74x this year’s forecasted earnings, LOW shares are relatively expensive compared to the industry’s 3.65x forward p/e ratio. The company pays shareholders $1.12 per share in dividend income per year, for a current yield of 1.41%. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $1.41 per share, which would be $0.21 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $4.05, which would be a $0.76 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $18.22 Billion. If realized, that would be a 5.01% increase over the year-ago quarter. More recently, Topeka Capital Markets Initiated LOW at Hold (May 24, 2016). Previously, Citigroup upgraded LOW from Neutral to Buy. With the above information in mind, readers should note that the average price target is $85.96, which is 7.24% above where the stock opened this morning. See more in (NYSE:LOW) Similar Articles: Company Update: Altria Group Inc (NYSE:MO) – Altria Holds 2016 Annual Meeting of Shareholders; Board of Directors Declares Quarterly Dividend Company Update: Lowes Companies Inc (NYSE:LOW) – Lowe’s Names Hub Group Intermodal Carrier of the Year and Platinum Service Award Winner Again Market Update: Lowes Companies Inc (NYSE:LOW) – Lowe’s Companies, Inc. Names Sandra B. Cochran To Board Of Directors