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Lowe's (LOW) Dips More Than Broader Markets: What You Should Know
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Lowe's (LOW - Free Report) closed the most recent trading day at $199.77, moving -0.78% from the previous trading session. This move lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the home improvement retailer had gained 2.29% in the past month. In that same time, the Retail-Wholesale sector gained 6.55%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Lowe's as it approaches its next earnings report date. This is expected to be May 23, 2023. The company is expected to report EPS of $3.54, up 0.85% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.85 billion, down 7.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.84 per share and revenue of $88.84 billion, which would represent changes of -0.36% and -8.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Lowe's should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Lowe's is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Lowe's currently has a Forward P/E ratio of 14.55. For comparison, its industry has an average Forward P/E of 13.22, which means Lowe's is trading at a premium to the group.
Investors should also note that LOW has a PEG ratio of 1.15 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Retail industry currently had an average PEG ratio of 1.7 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lowe's (LOW) Dips More Than Broader Markets: What You Should Know
Lowe's (LOW - Free Report) closed the most recent trading day at $199.77, moving -0.78% from the previous trading session. This move lagged the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the home improvement retailer had gained 2.29% in the past month. In that same time, the Retail-Wholesale sector gained 6.55%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Lowe's as it approaches its next earnings report date. This is expected to be May 23, 2023. The company is expected to report EPS of $3.54, up 0.85% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $21.85 billion, down 7.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.84 per share and revenue of $88.84 billion, which would represent changes of -0.36% and -8.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Lowe's should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Lowe's is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Lowe's currently has a Forward P/E ratio of 14.55. For comparison, its industry has an average Forward P/E of 13.22, which means Lowe's is trading at a premium to the group.
Investors should also note that LOW has a PEG ratio of 1.15 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Retail industry currently had an average PEG ratio of 1.7 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.