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Lowe's (LOW) Stocks Up on Q4 Earnings & Revenues Beat

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Lowe's Companies Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with fourth-quarter fiscal 2016 results, wherein adjusted earnings of 86 cents per share surpassed the Zacks Consensus Estimate of 79 cents and also jumped 45.8% year over year.

Management expects earnings of approximately $4.64 per share for fiscal 2017. The current Zacks Consensus Estimate for the fiscal year is $4.52.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a downtrend in the last 60 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 2.4%.

Revenues: Lowe's generated total revenue of $15,784 million that increased 19.2% year over year, and came ahead of the Zacks Consensus Estimate of $15,280 million. Comparable sales jumped 5.1% during the quarter.

Management expects total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.

Lowe's Companies, Inc. Price, Consensus and EPS Surprise

Lowe's Companies, Inc. Price, Consensus and EPS Surprise | Lowe's Companies, Inc. Quote

Key Events: Lowe's, which operated 2,375 home improvement and hardware outlets as of Feb 3, bought back $551 million of shares under its buyback program and paid $306 million in dividends in the quarter under review.

Zacks Rank: Currently, Lowe's carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Stock Movement: Lowe’s shares are up nearly 5% during pre-market trading hours following the earnings release.

Check back later for our full write up on Lowe’s earnings report!

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