Lowes Reports Higher Profits; Beats Estimates (LOW)

Home improvement retailer, Lowe’s Companies, Inc.(LOW) reported increased sales for the quarter, beating analysts estimates Monday.

The Mooresville, NC based company, reported third quarter net income of $396 million, or 35 cents per share, up 43% from last years profit of $225 million, or 18 cents per share. Excluding special items, net income for the quarter was 40 cents a share, beating analysts estimates of 35 cents per share.

Revenue came in at $12.1 billion, up 1.9% from last year, and beating analysts estimates of $11.9 billion.

The company reported that their full year earnings estimates are expected to be lower than originally estimated. Earnings are expected to be at $1.64 per share, which would miss analysts expectations of $1.62.

Lowe’s shares were up $1.37, or 4.28% during premarket trading Monday.

The Bottom Line
Shares of Lowe’s (LOW) have a 2.00% dividend yield, based on Friday’s closing stock price of $31.98. The stock has technical support in the $28 price area. The stock is trading near the all-time highs of $34 a share.

Lowe’s Companies, Inc.(LOW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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