Lowes

Lowe’s Up 30% in 3 Months on Solid Home Improvement Trends

The pandemic induced stay-at-home practice is encouraging home renovation and maintenance activities. This certainly is turning out to be an upside for certain home improvement market players, including Lowe’s Companies, Inc. LOW. Moreover, the company’s robust digital offerings and merchandise strategies are yielding, keeping investors interested in the stock.

Lowe’s currently has a Zacks Rank #3 (Hold). The stock has surged nearly 30% in the past three months compared with the industry’s rise of 19.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

That said, let’s take a look into some of the aspects that are acting as the aces in Lowe’s stack.

Home Improvements Market Looks Bright

With majority time being spent indoors due to the pandemic scenario, there is a rising focus on making homes an enjoyable and comfortable space. Home DIY projects for remodeling, decorating and maintenance of furniture

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Lowe’s Q2 Earnings Surge on Solid Sales Amid COVID-19 Restrictions; Buy with Target Price $190

Lowe’s Companies Inc, a home improvement retailer that distributes building materials and supplies through stores in the United States, said its net earnings surged more than 70% and total net sales jumped over 30% in the second quarter as consumers ordered more home improvement products amid COVID-19 restrictions.

The home improvement retailer reported net earnings of $2.8 billion and diluted earnings per share (EPS) of $3.74 for the quarter ended July 31, 2020, compared to net earnings of $1.7 billion and diluted EPS of $2.14 a year earlier. Second-quarter adjusted diluted EPS of $3.75 was 74% higher than adjusted diluted EPS of $2.15 same period last year.

Lowe’s said its sales for the second quarter were $27.3 billion, up from $21.0 billion in the second quarter of 2019, and comparable sales increased 34.2%.  Comparable sales for the U.S. home improvement business increased 35.1% during the period.

“We are

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Lowe’s beats sales expectations as home improvement spending surges

By Uday Sampath Kumar

(Reuters) – Lowe’s Cos Inc blew past analysts’ estimates for quarterly sales and profit on Wednesday as it benefited from a surge in demand for paint, tools and barbecue grills from consumers stuck at home due to the COVID-19 pandemic.

The company also posted a 34.2% rise in quarterly same-store sales, beating analysts’ estimates for a 13.2% increase, and said the sales momentum was carrying into August, although it would likely taper off in later months.

With a large base of do-it-yourself customers, Lowe’s has been among the chief beneficiaries of people undertaking minor home repair, painting or gardening work during the crisis.

That helped the company’s same-store sales far outpace those of larger rival Home Depot Inc , which relies more on demand from handymen and professional contractors, whose businesses have only recently started to pick up.

Wedbush Securities analysts estimate that nearly 75% of

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Lowes, Home Depot and Scotts Miracle-Gro

For Immediate Release

Chicago, IL – June 26, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Lowes Companies, Inc. LOW, The Home Depot Inc. HD and The Scotts Miracle-Gro Co. SMG.

Here are highlights from Thursday’s Analyst Blog:

Coronavirus Feeds Home Improvement Trends: 3 Stocks to Count On

The COVID-19-induced shelter-at-home orders fueled the need for home improvement by housebound Americans, thereby driving demand for the said industry.

The home improvement space includes Décor and indoor garden, Painting and wallpaper, Tools and hardware, Building materials, Lighting et al.  Apart from essentials, retailers in this industry are witnessing solid demand for gardening and other in-house activity-related products.

Although states are reopening and people are reporting back to work, the emergence

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Moderna Stabilizes in Premarket, Lowe’s Soars on Strong Q1

By Geoffrey Smith 

Investing.com — Stocks in focus in premarket trade on Wednesday. Please refresh for updates.

Moderna (NASDAQ:MRNA) stock was down 0.7%, paring earlier losses, after the healthcare news site Stat warned that the company still needs to provide much more data before it can be confident that its experimental Covid-19 drug will work. Moderna placed nearly $1.4 billion in new stock at $76 apiece on Tuesday, with underwriter Morgan Stanley (NYSE:MS) also having a $200 million greenshoe option. Lowe’s Companies (NYSE:LOW) stock rose 5.7% after its quarterly numbers showed U.S. consumers leaning heavily on the home improvement store during lockdowns.  Earnings per share were nearly one-third above consensus at Enforced leisure time at home appears to have called the bluff of husbands who have been swearing for years that they’ll “get around to doing that some day soon.” Target (NYSE:TGT) stock rose 1.4% after it, too, reported strong

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Lowe’s is the latest retailer requiring workers to wear masks during coronavirus

Lowe’s Home Improvement joins a growing list of retailers requiring its workers to wear masks amid the novel coronavirus crisis.

Lowe’s announced Monday it immediately will require all associates to wear a face mask or approved face covering while working in a store or at a customer’s home. Masks and gloves will be made available to workers, the Mooresville.-based company said in a press release.

The company also will “continue to evaluate and adjust our operations to meet the evolving guidelines from the CDC and local officials around customer and associate safety,” said Marvin Ellison, Lowe’s CEO and president.

Masks or face coverings are not required by North Carolina or Mecklenburg County government officials.

The Centers for Disease Control and Prevention recommends wearing cloth face coverings in public settings, along with following social distancing measure, to slow the spread of the virus and help people who may have the virus

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