Lowe’s Set to Have a Poor Showing for last Quarter
While retail sales may be up, Lowe’s (LOW) might not be coming out on top for its latest fiscal quarter. The home improvement retailer is set to release quarterly earnings before trading begins on Tuesday.
The company’s current stock price is $241.96, down 0.34% from the previous day. For the past week, Lowe’s has benefitted from the stock market boom, with share prices high and rising daily.
For the second fiscal quarter of the year, Lowe’s is expected to show that its earnings per share are down to $3.97, a decrease from $4.56 per share at this time last year. The company’s expected quarterly revenue earnings is around $23.91 billion.
However, it may not be all doom and gloom for the company. They are offering an annual dividend yield of 1.91%. That means that each quarter, shareholders would be able to receive $1.15 per share.
How the Market Is Shaping up for Lowe’s
The recent market upswing means that investor sentiment is very good right now, so Lowe’s may be able to get by with a less than stellar report, if some of its numbers look promising.
Investors should be aware that the market is due for a correction, though. Last week’s gains were the best the stock market has seen in more than a year, so a correction across the market is not unexpected. What this could mean for Lowe’s is a very forgiving response to its earnings per share if they meet expectations and a quick dip on the stock price sometime in the week. Investors may want to wait for that dip to buy in on this stock, if they haven’t already. With retail sales climbing, Lowe’s could be in a better position by the next quarterly report.
It is promising that the LOW price is up today even after a week of impressive gains that saw the stock price shoot up from $231 to $242.
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