/Lowe)
Headquartered in Mooresville, North Carolina, Lowe's Companies, Inc. (LOW) is a leading home improvement retailer dedicated to helping customers improve and maintain their homes. With a market cap of $136.12 billion, Lowe's offers a wide range of products, including appliances, tools, hardware, paint, plumbing, flooring, and more. The company operates stores across the U.S. and Canada, providing customers with quality products, exceptional service, and innovative home improvement solutions. The company is set to announce its fiscal Q2 earnings results before the market opens on Tuesday, Aug. 20.
Ahead of the event, analysts expect LOW to report a profit of $3.98 per share, down 12.7% from $4.56 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Lowe's adjusted earnings of $3.06 per share for the last quarter surpassed the consensus estimate by 4.1%. Stronger-than-anticipated sales and effective cost management helped Lowe’s beat expectations last quarter.
For fiscal 2024, analysts expect LOW to report EPS of $12.23, up 7.4% from $13.20 in fiscal 2023.
LOW’s stock has gained 7.3% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 14.5% gains and the Vaneck Retail ETF’s (RTH) 9.1% returns over the same time frame.
LOW reported Q1 earnings on May 21. For the full year 2024, LOW anticipates total sales of $84 to $85 billion, with comparable sales expected to decrease by 2% to 3% compared to the previous year. LOW’s shares declined 2% after the company released its earnings report.
Additionally, Lowe's is partnering with tech giants Apple Inc. (AAPL) and NVIDIA Corporation (NVDA) to enhance retail offerings through augmented and virtual reality for product visualization, robotics, and automation for improved efficiency and productivity.
The consensus opinion on LOW stock is optimistic, with an overall “Moderate Buy” rating. Out of the 30 analysts covering the stock, 15 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and 14 recommend a “Hold.” LOW’s average analyst price target is $246.87, indicating a potential upside of 3.3% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
