WBA - Lowe's: Still Too Dear Given The State Of The Housing Sector And Consumers
2024-07-03 11:31:37 ET
Summary
- Lowe's stock has dropped 15% from recent highs, as same-store sales are dropping due to a punk housing market.
- Q1 results beat tepid expectations; the company also reaffirmed full-year guidance and boosted its dividend payout by five percent.
- Is it time to accumulate the shares after the recent drop, or could the stock drop further? An analysis of Lowe's follows in the paragraphs below.
Today, we put home goods and improvement retailer Lowe's Companies, Inc. ( LOW ) in the spotlight. The shares have moved down some 15% from their recent highs in late March and are priced at a slight discount to the overall market based on S&P 500 forward earnings. Is it time to buy the dip in the shares, or could more downside be ahead? An analysis follows below....
Lowe's: Still Too Dear Given The State Of The Housing Sector And Consumers