Lowe’s Companies Inc. (LOW) Stock Sees Mixed Analyst Ratings and Stable Performance Ahead of Earnings Report

Lowe’s Companies Inc. (NYSE: LOW), a leading home improvement retailer in the United States, is set to release its latest earnings report on November 19, 2024. As the company prepares to announce its financial results, analysts and investors are closely watching the stock’s performance and future outlook.

As of the latest trading day, Lowe’s stock price stands at $271.77, with a slight increase of 0.88%. The company’s market capitalization is approximately $153.37 billion, and it has a price-to-earnings ratio of 22.54.

Analysts have mixed but generally positive views on Lowe’s stock. According to 25 analysts, the average rating for LOW stock is “Buy,” with a 12-month stock price forecast of $272.84, representing a 1.09% increase from the current price. Recent upgrades include Truist Financial raising the target price to $307.00 and Bank of America increasing it to $305.00, both with “buy” ratings. However, some analysts, like Stifel Nicolaus, have maintained a “hold” rating with a target price of $260.00.

Lowe’s financial performance has been stable, despite some challenges. In the fiscal second quarter, the company reported mixed results, with earnings per share of $4.10, beating analysts’ expectations. However, revenue for 2023 was $86.38 billion, a decrease of 11.01% compared to the previous year.

The company’s stock has also seen recent investment activity. OneAscent Financial Services LLC acquired 3,670 shares of Lowe’s Companies Inc. during the third quarter, valued at approximately $994,000. This move reflects ongoing interest from institutional investors in the home improvement sector.

With the Federal Reserve‘s recent rate cut, home improvement retailers like Lowe’s and Home Depot are expected to benefit from increased consumer spending on home projects. This macroeconomic environment could provide a boost to Lowe’s future performance.