LOW - Lowe's Companies, Inc.
| Previous Close | 116.48 |
| Open | 115.70 |
| Bid | 117.40 x 800 |
| Ask | 117.75 x 1100 |
| Day's Range | 115.23 - 117.67 |
| 52 Week Range | 85.90 - 121.22 |
| Volume | 3174806 |
| Avg. Volume | 3,701,142 |
| Market Cap | 90B |
| Beta (3Y Monthly) | 1.27 |
| PE Ratio (TTM) | 31.51 |
| EPS (TTM) | 3.73 |
| Earnings Date | Feb 25, 2020 - Mar 2, 2020 |
| Forward Dividend & Yield | 2.20 (1.89%) |
| Ex-Dividend Date | 2020-01-21 |
| 1y Target Est | 132.44 |
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- InvestorPlace
A 10% Correction Might Not Be Enough to Get Investors Into Home Depot Stock
Home Depot (NYSE:HD) had third-quarter results that were lower than expected. As a result, Home Depot stock has lost 10% of its value in the two weeks since disappointing investors. Source: Helen89 / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe question most investors ought to be asking themselves at this point is whether the 10% correction is a one-off or the beginning of something bigger?It has been a while since I've written about Home Depot, so I'll lean on my friends at InvestorPlace as I consider my answer. * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping The last time I wrote about HD stock was Dec. 10, 2018. Although the home improvement retailer's business was performing nicely, the HD stock price was not, falling 15% in October and hitting $167 by late November. The HD stock price finished 2018 down 6% on the year. Here's what I said about HD at the time:If you own HD stock, I wouldn't sell it because HD's business is operating at a very efficient level. If you don't own HD stock, I'd consider taking a position at these prices with cash in reserve if prices drop into the $160s. Barring obvious signs of a recession, I expect HD to bounce back in 2019.Home Depot's year to date total return is almost 24%. And that includes its recent 10% correction. I'd say that's a bounce back. Now let's consider what lies ahead in 2020. A Recession BrewingI've been saying for some time that a recession was just around the corner. The economy, however, says otherwise. While not running on all cylinders, and nowhere near the 4-6% growth Trump boasted after signing the Tax Cut and Jobs Act into law back in December 2017, it still managed to grow by 2.1% in the third quarter and the housing market has recovered thanks to lower mortgage rates. In September, Bankrate.com reported that the odds of a recession by the November 2020 presidential election were 41%, according to a survey of economists. Since then, despite the ongoing trade war between the U.S. and China, Bloomberg Economics now put the odds of a 2020 recession at just 26%. Although the odds of a recession in 2020 appear to have lessened, it's not beyond the realm of possibility that one could still rear its ugly head. With interest rates much lower today than in 2007, the Federal Reserve has little firepower to fight a slowing economy. InvestorPlace contributor Jonathan Berr believes that Home Depot ought to be able to weather a possible recession just as it did in 2008. In Q3 2019, Home Depot had same-store sales growth of 3.6%, 120 basis points lower than Q3 2018. That's a two-year stack of 8.4%. In Q3 2008, Home Depot's same-store sales declined 8.3%, 210 basis points worse than in Q3 2007. That's a two-year stack of -14.5%. In hindsight, we know that Home Depot weathered the storm, but those are numbers no retailer ever wants to see. That's especially true for one as successful as Big Orange. However, from a shareholder's perspective, Home Depot stock did do relatively well in the last downturn, losing 22% of its value between the end of 2007 and the March 2009 bottom. By comparison, the S&P 500 lost 37% in 2008. There's something to be said for history. The Bottom Line on Home Depot StockMy colleague believes that Home Depot's current valuation of 21.7 times trailing earnings (19.7x forward earnings) makes it a compelling buy compared to Lowe's Companies (NYSE:LOW), its smaller competitor. He's probably correct as it relates to the two companies. However, before I recommend HD stock in 2020, I've got to see what happens in the fourth quarter. If it continues to experience slower same-store sales growth, I could see HD retreating below $200. Home Depot reports its fourth-quarter results in late February. I would wait until then before assuming the stock's latest correction is over and done with. If you own HD stock, I wouldn't sell. If you don't, I'd wait until after earnings. However, long-term, as Berr said, you'll do well owning Big Orange. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post A 10% Correction Might Not Be Enough to Get Investors Into Home Depot Stock appeared first on InvestorPlace.
- Simply Wall St.
Is There An Opportunity With Lowe's Companies, Inc.'s (NYSE:LOW) 26% Undervaluation?
How far off is Lowe's Companies, Inc. (NYSE:LOW) from its intrinsic value? Using the most recent financial data, we'll...
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Sam Stovall on the Market's Drivers for December
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Edited Transcript of LOW earnings conference call or presentation 20-Nov-19 2:00pm GMT
Q3 2019 Lowe's Companies Inc Earnings Call
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Retail ETFs Up on Q3 Earnings
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- Yahoo Finance
Black Friday 2019 Live Updates: Online sales up 19.2% from a year ago
Yahoo Finance hits the stores to see how Black Friday has started for retailers.
- Bloomberg
The True Black Friday Experience Just Isn’t Available Online
(Bloomberg Opinion) -- Black Friday is almost here, and plenty of shoppers will opt for swiping and tapping on their phones instead of bumping and elbowing their way through the mall.But the changing nature of this American-invented shopping holiday should hardly be taken as a signal that physical stores don’t matter. While consumers say they plan to spend more online than in stores, the data suggests that is not actually what will happen. The National Retail Federation estimates that holiday retail sales this year will total between $727.9 billion and $730.7 billion, and of that haul, only about 23% — between $162.6 billion and $166.9 billion — will be composed of online and other non-store sales.(1)So there’s no reason old-school chains should resign themselves to eating Amazon.com Inc.’s dust during the most important shopping stretch of the year.For a substantial group of shoppers, getting deals and checking off gift lists is not the primary goal of Black Friday shopping expeditions. Throngs of people are poised to visit stores on Thursday night just for the sport of it.For these consumers, convenience is not the point. They are seeking something social and experiential, and that’s a huge opportunity for brick-and-mortar retailers. It’s a testament to the extent to which lively displays, well-stocked shelves and strong customer service can lure people into opening their wallets.Crucially, it is younger shoppers — the most coveted demographic group for retailers — who are most likely to say that they’ll be joined by family and friends for their in-store shopping over the long holiday weekend.That may come as a surprise given the perception that members of Generation Z, in particular, have their eyes on their phones all day long. But, in fact, it’s consistent with other data that suggests even these digital natives sincerely like going to stores. Gen Z consumers do most of their shopping in physical stores, just like their older counterparts. And they like them for the reasons you might expect, including the social aspect of it and the ability touch or try items on.In other words: There simply isn’t good evidence that Generation Z is soon going to deal some sort of fatal blow to brick-and-mortar store shopping.Stores also remain important because, at this point in retail’s digital transformation, they are an essential component of a well-run e-commerce strategy. Many customers are opting to pick up online orders in stores, providing an opportunity to sell them on additional items. Store workers and inventory are crucial to fulfilling many of the online orders that show up on doorsteps. At Target Corp., for example, physical stores fulfilled almost 75% of online orders in last year’s holiday quarter. That means a well-stocked and -considered merchandise assortment, and a carefully deployed labor force, are critical to keeping both in-store and online shoppers happy.Besides, physical store shopping is rarely a totally analog process these days anyway. You might read online reviews of a coat, but buy it in-store only you’ve had the chance to try it on. Or a 4K TV might catch your eye during a stroll through a big-box store, but you might end up buying it online later after you’ve had the chance to make sure the size is right for your family room.Black Friday will no doubt be a booming day for e-commerce, with a projected $7.5 billion in online spending. But investments in extensive store renovations (such as those by Target) or a focus on new worker-scheduling systems (such as at Lowe’s Cos.) remain vital. Physical stores will be part of the defensive strategy against Amazon for the foreseeable future — and retailers are right to go to great lengths to make them enticing.(1) Non-store sales include options such as catalog sales and door-to-door selling.To contact the author of this story: Sarah Halzack at shalzack@bloomberg.netTo contact the editor responsible for this story: Michael Newman at mnewman43@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Australian Bonds Rally as RBA Lays Out Roadmap for Rate Cuts, QE
(Bloomberg) -- The road map for quantitative easing laid out by Reserve Bank of Australia Governor Philip Lowe is spurring a rally in the nation’s bonds as investors seize on his comments to bet on deeper interest-rate cuts.The nation’s sovereign debt rallied from the start of trade following Lowe’s speech late on Tuesday, and then extended gains when Westpac Banking Corp.’s economist Bill Evans predicted the central bank would cut borrowing costs to the 0.25% lower bound rate flagged by RBA. Three-year yields slid the most in seven months.“The curve is steepening today as people trade the 0.25% view,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. “Longer-dated bonds will also start to anticipate those cuts at some point and that QE is still on the shopping list -- just not immediately.”Lowe’s landmark speech on Tuesday, while highlighting his reluctance for quantitative easing, laid out the conditions required for the unorthodox measures as well as what the RBA would buy. While some analysts dialed back expectations for QE, others saw the road map as a sign that policy is inevitably headed that way.The speech was a “clear signal to us that the RBA will be prepared to cut the cash rate” to 0.25% by June, Westpac’s Evans wrote in a research note. The central bank will embark on QE in the second half of next year, he said.Bond traders had previously hesitated to price interest-rates falling below 0.50%, which they had assumed was the floor.The three-year bond yield dropped as much as 10 basis points, the most since April, to 0.632%, while the 10-year fell six basis points to 1.018%.Lowe made clear that the hurdle to QE is very high and “not a smooth continuum from interest-rate reductions.” If it comes, it is likely to be in the form of government-bond buying, with no appetite for purchasing private-sector assets, he said.Corporate BondsLowe’s comments on private asset purchases are expected to knock some of the wind from corporate bonds and residential mortgage-backed securities, according to Antares Capital.“At the very least, this takes away the QE bid,” said Tano Pelosi, a portfolio manager who helps oversee A$28 billion ($19 billion) in assets at the firm in Sydney.The average yield of Australian corporate bonds has tumbled 135 basis points to 1.69% this year on speculation unconventional monetary policy would boost the sector’s performance.Still, investors have reason to question whether the RBA will limit itself to government bonds if it’s forced to plunge into unconventional policy.The debt-buying programs of the European Central Bank have mutated since the initial foray in 2010, expanding to include corporate bonds and asset-backed securities. Tweaks have also been made to maturities and minimum yield levels on purchased assets.“Any bond-buying program will still benefit the wider market,” AMP’s Oliver said. “Ultimately, there’ll be some sort of bid and ripples across markets if the RBA steps in as a buyer of government debt.”To contact the reporters on this story: Ruth Carson in Singapore at rliew6@bloomberg.net;Stephen Spratt in Hong Kong at sspratt3@bloomberg.netTo contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net, Brett Miller, Nicholas ReynoldsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Investopedia
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Report: Home Depot fights back on 'retail shrinkage' (Video)
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The Zacks Analyst Blog Highlights: Abbott, Philip Morris, Lowe's, Equinix and Kinder Morgan
The Zacks Analyst Blog Highlights: Abbott, Philip Morris, Lowe's, Equinix and Kinder Morgan
- Insider Monkey
Lowe’s Companies, Inc. (LOW): Are Hedge Funds Right About This Stock?
Hedge funds are known to underperform the bull markets but that's not because they are terrible at stock picking. Hedge funds underperform because their net exposure in only 40-70% and they charge exorbitant fees. No one knows what the future holds and how market participants will react to the bountiful news that floods in each […]
- TipRanks
Goldman Sachs: 3 “Strong Buy” Stocks to Snap Up Now
A recent report by investment bank Goldman Sachs lays out the risks and opportunities in the near-term markets heading into 2020. The bank’s investment strategists said that, after three rate cuts this year, they no longer see bonds as the go-to for risk-averse investors. Instead, foreseeing modest growth, they believe stocks are the better way to go for now.“We expect moderately better economic and earnings growth, and therefore decent risky asset returns,” the Goldman report stated. Going into detail, the reported noted that market prices are already taking account of the US-China tariff disputes and the ongoing Brexit drama. They advise a cautious investment stance, and move toward high-quality assets.So, with that in the background, we’ve pulled three "strong buy" stocks from the TipRanks' Stock Screener. All three have recent recommendations from some of Goldman’s top stock analysts. But more than that, all three are trending upward and show distinct upside potential.Brinks Company (BCO)You’re probably familiar with Brinks; the private security company’s trucks are visible in over 100 countries around the world. Brinks is best known for its armed and armored guard and courier service, provided to governments, banks, jewelers, and retailers. The company provides ATM services, too, including machine installation, replenishment, and maintenance, and money processing services, such as counting, sorting, and storage. Brinks also offers payment processing and physical safes for retailers. Brinks has positioned itself as one-stop-shop for the commercial security industry.Security is an essential service for any business dealing with cash and valuables, and Brinks' quarterly results reflected the company’s success as a service provider. Revenues came in at $924 million, 8.5% higher than the year-ago quarter, while EPS beat the forecast by 3% and showed a quarterly print of $1.05. The strong quarter, the seventh in a row that Brinks beat the estimates, was reflected in the share price: Brinks is up an impressive 37% year-to-date.Brinks's strong performance and recent share gains prompted Goldman’s George Tong, a 5-star analyst, to initiate coverage of the stock with a Buy rating and a $108 price target. Tong wrote, “Brinks has a healthy mid-to-high single digit annual organic revenue growth outlook driven by improving service quality, expanding services and the penetration of new markets. We view Brink’s strategy to develop end-to-end cash supply chain managed services targeting retail clients as capable of driving accelerating revenue growth and upward estimate revisions…” Tong’s price target suggests a 17% upside for this stock. (To watch Tong's track record, click here)Overall, Brink’s shares maintain a unanimous Strong Buy analyst consensus, based on 4 recent Buy ratings. Shares are selling for $92.5, and the $105 price target indicates room for a 13% upside. (See Brinks stock analysis on TipRanks)Lowe’s Companies (LOW)The second-largest home improvement superstore in the US, Lowe’s has faced a mix of hard times and optimism lately. The stock has been highly volatile in the past year as the company has worked to execute a turnaround strategy and improve profits and earnings. Volatility aside, LOW shares are up 26% since January, just outperforming the S&P 500’s 24% gain.Part of Lowe’s success is the ground-up improvement strategy executed by CEO Marvin Ellison. Ellison took over in May of 2018 and took a hands-on approach to improving the retail basics: stocking, merchandising, and customer service. Ellison has also been ruthless in cost-cutting measures, shuttering underperforming stores and laying off several thousand workers. His efforts paid off, however, and in 1H19 Lowe’s outperformed its larger competitor, Home Depot. In a statement to all Lowe’s employees last month, Ellison affirmed the company’s commitment to “…tremendous change and growth to position us toward becoming the leading home improvement retailer.”Despite the hits to company morale, management’s efforts have paid off on the fiscal bottom line. Last year, Lowe’s recorded annual revenues of $68.6 billion, up 5.5%, while net profits, at $3.4 billion, were up 1.3%. In the most recent earnings report, Q3 2019, LOW’s EPS came in at $1.41, well above the $1.35 forecast. While quarterly revenues just missed projections for the quarter, the company did increase its full-year EPS guidance to an upper limit of $5.70.5-star analyst Kate McShane, weighing in from Goldman Sachs, said, “3Q results represented a positive step in rebuilding investor confidence around LOW’s execution capabilities and transformation strategy. The company demonstrated another quarter of sequential gross margin improvement, raised full-year EPS, and remains confident that strategic initiatives can help drive a comp acceleration in 4Q.” She reiterated her Buy rating and set a price target of $135, indicating confidence in a 15% upside. (To watch McShane's track record, click here)All in all, Wall Street loves the retail giant's stock, considering most voices are betting on LOW. Based on 19 analysts polled by TipRanks in the last 3 months, 16 rate LOW a "buy," while 3 say "hold." The 12-month average price target stands at $136.81, marking a 17% upside from where the stock is currently trading. (See LOW stock analysis on TipRanks)Tradeweb Markets (TW)A public company only since this past April, Tradeweb has recently gotten a lot of love from Wall Street. Tradeweb is an online marketplace for over-the-counter financial products, including municipal bonds, corporate bonds, and certificates of deposit. The company functions as an interdealer broker, connecting commercial and investment banks and trading firms with buyers and sellers in the financial markets. Essentially, Tradeweb is an digital platform for online bond and derivative trading.Tradeweb raised over $1.1 billion in it’s April IPO, making it the second largest IPO in the US this year. In an impressive performance, TW shares closed at $35 in the first day of trading, and despite high volatility, have gained 27% since. In its Q3 report, Tradeweb showed net income of $48.6 million and a diluted EPS of 20 cents. Gross revenues hit a quarterly record of $201 million, up 21% from Q2. The most important number, however, is likely the ADV, or average daily volume, for the quarter. In Q3, Tradeweb set a new quarterly record for ADV, hitting $815 billion – an increase of 53% year-over-year.After the company’s strong gains in the third quarter, Goldman analyst Alexander Blostein upgraded his stance on this stock, raising it from "neutral" to "buy." He wrote, “We see the stock’s solid organic revenue growth and expanding operating margins collectively driving ~15% EPS growth in 2020/2021 - a critical point of differentiation versus most other Exchanges, where top-line trends are decelerating, margin expansion is becoming increasingly harder to achieve (absent of a macro-driven spike in volatility), and valuations remain expensive. We think TW is likely to sustain its growth momentum driven by: (1) Continued market share gains, particularly in Interest Rate Derivatives and Credit. (2) Favorable revenue capture trends. (3) Significant runway to EBITDA margin expansion.” Blostein’s $53 price target implies room for an 17% upside to TW. (To watch Blostein's track record, click here)With a background like that, it’s no wonder that Tradeweb has attracted bullish reviews from the analysts. TW's analyst consensus rating is a Strong Buy, with 4 analysts giving it the thumbs up and only one analyst suggesting to stay sidelined. Shares sell for $45.27, and the average price target is $49.60; this indicates a potential upside of nearly 10%. (See Tradeweb stock analysis on TipRanks)
- Quartz
Black “Friday” now lasts an entire week
Retailers have a very loose definition of the word "Friday." Big box stores are offering holiday deals to shoppers earlier and earlier.
- Zacks
Top Analyst Reports for Abbott, Philip Morris & Lowe's
Top Analyst Reports for Abbott, Philip Morris & Lowe's
