Analysts on Wall Street project that Lowe's (LOW) will announce quarterly earnings of $2.81 per share in its forthcoming report, representing a decline of 8.2% year over year. Revenues are projected to reach $19.95 billion, declining 2.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Lowe's metrics that are commonly monitored and projected by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Number of stores - Total' of 1,746. The estimate compares to the year-ago value of 1,746.
It is projected by analysts that the 'Sales floor square footage - Total' will reach 194.96 million. Compared to the present estimate, the company reported 195 million in the same quarter last year.
Analysts predict that the 'Average store size selling square feet' will reach 111.88 thousand. Compared to the present estimate, the company reported 112 thousand in the same quarter last year.
View all Key Company Metrics for Lowe's here>>>
Shares of Lowe's have experienced a change of -4.1% in the past month compared to the +3.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), LOW is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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