What Analysts Think of Lowe’s Stock Ahead of Earnings | Global News Avenue

Lowe’s Company (low) will report third-quarter results on Tuesday morning, and analysts expect revenue to be lower than a year ago, despite a possible sales boost from recent hurricanes.

Analysts are slightly less bullish on Lowe’s stock than its home improvement rivals home depot (HD), which reported earnings last week. Of the 19 analysts tracked by Visible Alpha who cover Lowe’s, 10 own the stock “Buy” ratingeight rated “hold” and one rated “sell.” their average target price $269.32 is just a few cents away from Friday’s closing price.

Lowe’s shares are down about 6% from last month’s all-time high of $287.01, but are up about 21% this year.

Analysts expect Lowe’s sales of $19.89 billion, down from $20.47 billion last year. net income It is expected to drop nearly 10% to $1.6 billion, or $2.82 per share.

What Home Depot’s earnings mean for Lowe’s

Analysts at Bank of America and Melius Research wrote in a recent report: Home Depot’s earnings It could be a sign that hurricanes affecting southern states this quarter will bring similar sales gains to Lowe’s.

Melius analysts raised Lowe’s price target to $310, citing performance of the professional contractor market – which Two Home Depots Lowe’s has strive to expand Their market share will be a “key issue” as “big ticket” spending and do-it-yourself projects are likely to remain low during the quarter.

Available at Home Depot and Lowe’s Reported sales decline exist recent quarters U.S. consumers are focusing on necessities and cutting back on discretionary spending like home improvement projects and “big-ticket” purchases like appliances.