Mooresville, North Carolina-based Lowe’s Companies, Inc. (LOW) operates as a home improvement retailer. With a market cap of $152.5 billion, the company offers tools, appliances, building supplies, carpet, bathroom, and lighting products. The leading home improvement retailer is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Tuesday, Nov. 19.
Ahead of the event, analysts expect LOW to report a profit of $2.80 per share on a diluted basis, down 8.5% from $3.06 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect LOW to report EPS of $11.91, down 9.8% from $13.20 in fiscal 2024. However, its EPS is expected to rise 6.9% year over year to $12.73 in fiscal 2026.
LOW stock has outperformed the S&P 500’s ($SPX) 38.7% gains over the past 52 weeks, with shares up 43.8% during this period. Similarly, it outperformed the Consumer Discretionary Select Sector SPDR Fund’s (XLY)33.5% gains over the same time frame.
By partnering with tech giants such as Apple Inc. (AAPL) and NVIDIA Corporation (NVDA), LOW has significantly improved its performance. The company has utilized augmented reality for product visualization and implemented robotics in its warehouses, enhancing both the retail experience for customers and operational efficiency.
On Oct. 9, LOW shares rose more than 1% after Loop Capital Markets upgraded the stock to “Buy” from “Hold” with a price target of $300.
On Aug. 20, LOW shares closed down more than 1% after reporting its Q2 results. It’s adjusted EPS of $4.10 surpassed Wall Street estimates of $3.96. The company expects full-year adjusted EPS to be between $11.70 and $11.90.
Analysts’ consensus opinion on LOW stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 31 analysts covering the stock, 18 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and 12 give a “Hold.” LOW’s average analyst price target is $270.34, indicating a potential upside of 1% from the current levels.
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