What's Going On With Lowe's Shares Tuesday
Portfolio Pulse from Dylan Berman
Lowe's Companies, Inc. (NYSE:LOW) stock initially traded lower in sympathy with Home Depot, Inc. (NYSE:HD), which reported a revenue miss for the second quarter and issued adjusted EPS outlook below estimates. Both stocks have since reversed. Home Depot reported sales of $43.17 billion, missing estimates, but beat EPS estimates with $4.67. Home Depot also adjusted its EPS guidance and raised its sales guidance. Lowe's is expected to report its earnings on August 20, with analysts estimating EPS of $3.99 and revenue of $24.01 billion.
August 13, 2024 | 4:20 pm
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NEUTRAL IMPACT
Home Depot reported a revenue miss for the second quarter but beat EPS estimates. The company adjusted its EPS guidance and raised its sales guidance. Despite the initial negative reaction, the stock has since reversed.
Home Depot's mixed earnings report initially caused a negative reaction, but the stock has since recovered. The raised sales guidance and beat on EPS estimates provide a balanced outlook.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lowe's stock initially traded lower in sympathy with Home Depot's revenue miss and adjusted EPS outlook but has since reversed. Lowe's is expected to report its earnings on August 20, with analysts estimating EPS of $3.99 and revenue of $24.01 billion.
Lowe's stock was initially impacted by Home Depot's earnings report but has since recovered. The upcoming earnings report on August 20 could further influence the stock price, especially if it meets or exceeds analyst expectations.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80