Wall Street analysts forecast that Lowe's (LOW) will report quarterly earnings of $1.82 per share in its upcoming release, pointing to a year-over-year increase of 2.8%. It is anticipated that revenues will amount to $18.29 billion, exhibiting a decline of 1.7% compared to the year-ago quarter.
The current level reflects a downward 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.
In light of this perspective, let's dive into the average estimates of certain Lowe's metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Number of stores - Total' to come in at 1,747. Compared to the current estimate, the company reported 1,746 in the same quarter of the previous year.
The consensus among analysts is that 'Sales floor square footage - Total' will reach 194.98 million. The estimate is in contrast to the year-ago figure of 195 million.
According to the collective judgment of analysts, 'Average store size selling square feet' should come in at 112 thousand. The estimate is in contrast to the year-ago figure of 112 thousand.
View all Key Company Metrics for Lowe's here>>>
Over the past month, shares of Lowe's have returned -5.7% versus the Zacks S&P 500 composite's +2.2% change. Currently, LOW carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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