According to a statement by Lowe’s Companies Inc (LOW) on Thursday, more than 260 000 of its hourly employees in the United States are to receive a one-time bonus of $1 000, as the company takes advantage of the US tax code reform. The bonus will be paid to employees at stores, customer support and distribution centers.
Shares of Lowe’s Companies Inc closed lower for a fourth consecutive trading session on Thursday. The stock went down 0.83% ($0.87) to $103.86, after touching an intraday low at $103.35, or a price level not seen since January 19th ($102.47).
In the week ended on January 28th the shares of the home improvement chain added 2.33% to their market value compared to a week ago, which marked a ninth consecutive period of gains.
The stock rose 12.69% in January, which marked a fifth straight month of gains and also the best performance since November 2011.
For the entire past year, the shares of Lowe’s Companies Inc gained 30.68% following a 6.47% drop in 2016.
Qualified hourly full-time employees will receive new benefits that include additional paid maternity and parental leave as well as adoption assistance benefit of $5 000, Lowe’s said.
The home improvement chain also expects the charges and the one-time bonus to affect its fourth-quarter earnings per share by $0.14.
Meanwhile, the company expects to incur an additional net tax expenditure of $75 million during last years final quarter.
According to CNN Money, the 31 analysts, offering 12-month forecasts regarding Lowe’s Companies Incs stock price, have a median target of $98.00, with a high estimate of $124.00 and a low estimate of $69.00. The median estimate is a 5.64% decrease compared to the closing price of $103.86 on February 1st.
The same media also reported that 16 out of 32 surveyed investment analysts had rated Lowe’s Companies Incs stock as “Buy”, while 12 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Lowes stock are presented as follows:
R1 – $104.02
R2 – $104.18
R3 (Range Resistance – Sell) – $104.34
R4 (Long Breakout) – $104.81
R5 (Breakout Target 1) – $105.37
R6 (Breakout Target 2) – $105.60
S1 – $103.70
S2 – $103.54
S3 (Range Support – Buy) – $103.38
S4 (Short Breakout) – $102.91
S5 (Breakout Target 1) – $102.35
S6 (Breakout Target 2) – $102.12
By using the traditional method of calculation, the weekly levels of importance for Lowe’s Companies Inc (LOW) are presented as follows:
Central Pivot Point – $107.24
R1 – $109.14
R2 – $110.87
R3 – $112.77
R4 – $114.66
S1 – $105.51
S2 – $103.61
S3 – $101.88
S4 – $100.14