Lowes (LOW) reported disappointing quarterly earnings this morning before markets opened for trading. They earned $3.06 per share on revenue of $20.47 billion which represented a fall of 12.81% from the same quarter last year. Estimates were for the company to report $21.07 billion in revenue.
Lowes also reduced their outlook for fiscal 2024 to $13.00 a share, down from estimates of $13.20 to $13.60. They now expect to earn $86 billion versus the original estimate of $87.5 to $89 billion. The stock fell this morning after earnings were released. The company pays a $4.40 annual dividend and is trading at 19.5 time PE which is not expensive by historic standards for Lowes. I would not expect a much deeper sell-off than we saw this morning but instead a gradual decline to $190 this fall might occur.
Here is the first trade placed i n the stock this morning.
The trade alert provides the details and comments on the stock.
The rest of this trade alert and ideas article is for FullyInformed Members.
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
