Here's your Investing Action Plan for Wednesday: what you need to know as an investor for the coming day. More retail earnings reports from Target (TGT) and Lowe's (LOW) may confirm coronavirus consumer trends seen in Walmart (WMT) and Home Depot (HD) results earlier. Meanwhile, highly rated stocks Synopsys (SNPS), Take-Two Interactive (TTWO) and ZTO Express (ZTO) report quarterly results as well.
XTarget Follows Rival Walmart
Big-box discounter Target reports early. EPS is seen plunging 52% to 73 cents, even as revenue swells 7% to $18.85 billion. Sales have been rising in part due to the popularity of services such as curbside pickup. The Target earnings report comes after Walmart reported a surprise earnings gain as same-store sales and e-commerce boomed during coronavirus lockdowns.
Meanwhile, Target stock has built a cup base and is shooting for a 130.34 buy point.
Lowe's Follows Rival Home Depot
Lowe's reports early Wednesday. Wall Street expects EPS to rise 5.7% to $1.29 as revenue grow 2.7% to $18.22 billion. Early Tuesday, Home Depot missed Q1 earnings estimates but beat on revenue and same-store sales. Management also said sales were strong in the last two weeks of the April-ending Q1 and the first two weeks of the current Q2.
Other Earnings
- Synopsys reports fiscal Q2 earnings late. Analysts see the chip design software maker's EPS falling 15% to 99 cents, with revenue roughly flat at $837 million.
- Take-Two Interactive reports fiscal Q4 results late. The video game publisher's EPS is seen up 1.2% to 87 cents, on sales of $577 million, up 18%.
- ZTO Express reports late, and the Chinese shipping giant's EPS is seen down 6% at 16 cents as revenue slips 3% to $644 million.
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