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What Analyst Projections for Key Metrics Reveal About Lowe's (LOW) Q3 Earnings

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Wall Street analysts forecast that Lowe's (LOW - Free Report) will report quarterly earnings of $2.98 per share in its upcoming release, pointing to a year-over-year increase of 3.1%. It is anticipated that revenues will amount to $20.86 billion, exhibiting an increase of 3.4% compared to the year-ago quarter.

The current level reflects an upward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

That said, let's delve into the average estimates of some Lowe's metrics that Wall Street analysts commonly model and monitor.

Based on the collective assessment of analysts, 'Number of stores - Total' should arrive at 1,755 . Compared to the present estimate, the company reported 1,747 in the same quarter last year.

The collective assessment of analysts points to an estimated 'Sales floor square footage - Total' of 195.65 million. Compared to the present estimate, the company reported 195.00 million in the same quarter last year.

Analysts' assessment points toward 'Sales per store' reaching $11.97 million. The estimate compares to the year-ago value of $11.55 million.

The combined assessment of analysts suggests that 'Average store size selling square feet' will likely reach 111.72 thousand. The estimate is in contrast to the year-ago figure of 112.00 thousand.

View all Key Company Metrics for Lowe's here>>>

Lowe's shares have witnessed a change of -4.8% in the past month, in contrast to the Zacks S&P 500 composite's +1.4% move. With a Zacks Rank #3 (Hold), LOW is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .


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