November 19, 2012 at 08:20 AM EST
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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here