Shares of Lowe’s (NYSE:LOW) fell today after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $2.28, which beat analysts’ consensus estimate of $2.21 per share.
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Sales increased by 5% year-over-year, with revenue hitting $22.4 billion. This was $310 million below expectations.
Looking forward, management now expects revenue and adjusted EPS for Fiscal Year 2023 to be in the ranges of $88 billion to $90 billion and $13.60 to $14, respectively. For reference, analysts were expecting $90.66 billion in revenue and an EPS figure of $13.84.
Overall, Wall Street analysts have a consensus price target of $231.12 on LOW stock, implying over 18% upside potential, as indicated by the graphic above.
