Lowe's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts from

Lowe's Prepares for Q3 Reporting: Wall Street's Top Analysts Adjust Forecasts

Earnings Season Nears for Home Improvement Giant

Lowe's Companies, Inc. (LOW), the home improvement giant, is gearing up for its fiscal third-quarter earnings release. As the company prepares to report its financial performance, Wall Street analysts have been fine-tuning their forecasts.

Q3 Estimates from Leading Analysts

According to Refinitiv, analysts anticipate Lowe's to report earnings per share (EPS) of $4.06 for the third quarter, representing a decrease from the previous quarter's $4.56 EPS. Revenue projections stand at $23.1 billion, a modest increase from the $22.9 billion reported in Q2.

BMO Capital Markets analyst Simeon Gutman maintained an "Outperform" rating on Lowe's stock, raising his EPS estimate to $4.07. Meanwhile, Credit Suisse's Seth Sigman reaffirmed his "Neutral" stance, slightly lowering his EPS forecast to $4.05.

Factors Influencing Analyst Estimates

Analysts' estimates factor in various economic indicators and industry trends that may impact Lowe's performance. These include:

Slowdown in the housing market
Inflationary pressures on raw materials
Increased competition from online retailers
Lowe's strategic initiatives, such as omnichannel expansion

Market Expectations and Investor Sentiment

Investors are eagerly awaiting Lowe's Q3 results to gauge the company's resilience amidst challenging market conditions. Positive earnings could bolster investor confidence in the home improvement sector.

As of the market close on October 12, 2023, Lowe's stock was trading at $192.50. Analysts remain cautious in their overall outlook, with an average target price of $200, implying a potential upside of approximately 4%.

Conclusion

As Lowe's approaches its Q3 earnings release, Wall Street analysts have been refining their forecasts. While estimates suggest a modest decline in earnings, they also highlight the company's strategic efforts to navigate industry challenges. Investors will closely monitor the results to assess the health of the home improvement market and Lowe's competitive positioning.