Name of opportunity: 👀
Lowe's Companies Inc.
Modest profit potential 👌
Lowe’s is America’s second largest chain of hardware stores after Home Depot, and it’s currently called a ‘buy’ by analysts. The company might receive a boost in revenue at the start of the year, with customers starting home improvement projects as part of their New Year’s resolutions, as this is a popular resolution, especially among older adults. Customers might also be getting ready to spring clean and perhaps refurbish their homes in a month or two. But how much is the stock worth right now and how much is it predicted to increase?
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Lowe's Companies Inc. might increase from $246.55 to $265.13 in the next 12 months. If you invested $1000, you might profit $77.69.
One reason why investors and analysts feel positive about Lowe’s is that this is a long-standing, consistently profitable company. It’s even raised its dividends on an annual basis for 25 years, making it a ‘dividend aristocrat’.
Lowe’s Q3 results were better than expected, although the company did report a drop in year-on-year sales from $20.5 billion to $20.2 billion. Lowe’s updated its outlook for 2024, raising its estimate of total sales from a range of $82.7- $83.2 billion to a new range of $83.0- $83.5 billion.
Major DIY retailer in the US 🔨
Lowe's Companies, Inc. is a home improvement retailer. The Company operates home improvement and hardware stores. It offers a range of products in departments, including appliances, bathroom, building supplies, cleaning and pet supplies, doors and windows, electrical, flooring and rugs, hardware, heating and cooling, home decor and furniture, kitchen, lawn and garden, lighting and ceiling fans, molding and millwork, outdoor living and patio, paint, plumbing, smart home, security, wireless fidelity (Wi-Fi), sports and fitness, storage and organization, tools, accessible home, animal and pet care, automotive, and holiday decorations.
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All stock information is correct at time of writing.
