LOW - Lowe's Analysts Weigh In Unexpected Sales Dip And Revised Forecasts | Benzinga
Shares of Lowe's Companies Inc (NYSE: LOW) were falling on Tuesday, after the company reported its third-quarter results.
The company reported a third-quarter FY23 sales decline of 12.8% year-on-year to $20.47 billion, missing the analyst consensus estimate of $20.88 billion.
Comparable sales decreased 7.4% due to a decline in DIY discretionary spending. The company repurchased about 7.3 million shares for $1.6 billion and paid $624 million in dividends in the quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Telsey Advisory Group On Lowe's Companies
Analyst Joseph Feldman maintained a Market Perform rating and price target of $225.
Lowe's third-quarter results were "mixed,” and the company slashed its 2023 guidance, Feldman said ...