LOWE’S EARNINGS ON SCHEDULE-MARKET LOOKING BULLISH
Lowe’s is scheduled to report its earnings before the market open on Wednesday. The closing price of Lowe’s on Friday was $97.96 and has been gaining momentum over the last two trading sessions.
Lowe’s first quarterly results missed market expectations. The EPS for the first quarter was $1.19 versus expected EPS of $1.22.
According to Reuters, The Board of Directors for Lowe’s Companies, Inc. has recently declared a quarterly cash dividend of forty-eight cents per share, payable on November 7, 2018, to shareholders of record as of October 24, 2018.
According to Market sources, the consensus EPS forecast for the second quarter is $2.02 and 7% improvement in Revenue on YoY basis. The reported EPS for the same quarter last year was $1.57.
On the technical front, the RSI is currently at 49.05% and suggests that the market can continue the trading sideways. The %K has crossed the %D from below to the upside at 29.45% and suggests that the market may head upwards. The current market price is below the middle band of the Bollinger bands and is heading downwards .The price is above the MA5 .Overall market sentiment seems to be positive.
TRADE SUGGESTION-LIMIT BUY AT 97.75 TAKE PROFIT AT 98.45 STOP LOSS AT 97.40