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Lowe's (LOW) Q1 Earnings & Sales Miss Estimates, Stock Down
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Lowe's Companies, Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with first-quarter fiscal 2017 results, wherein adjusted earnings of $1.03 per share missed the Zacks Consensus Estimate of $1.07 but rose 18.4% year over year.
Management expects earnings of approximately $4.30 per share for fiscal 2017. The current Zacks Consensus Estimate for fiscal 2017 is pegged higher at $4.65.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has increased by 2 cents in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 0.2%.
Revenues: Lowe's generated total sales of $16,860 million that increased 10.7% year over year, but came below the Zacks Consensus Estimate of $17,037 million. Comparable sales grew 1.9% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to rise 3.5% for fiscal 2017.
Key Events: Lowe's, which operated 2,137 home improvement and hardware outlets as of May 5, bought back $1.2 billion of shares under its buyback program and paid $304 million in dividends in the fiscal first quarter.
Stock Movement: Lowe’s shares are down nearly 6.5% 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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Lowe's (LOW) Q1 Earnings & Sales Miss Estimates, Stock Down
Lowe's Companies, Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with first-quarter fiscal 2017 results, wherein adjusted earnings of $1.03 per share missed the Zacks Consensus Estimate of $1.07 but rose 18.4% year over year.
Management expects earnings of approximately $4.30 per share for fiscal 2017. The current Zacks Consensus Estimate for fiscal 2017 is pegged higher at $4.65.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Lowe's Companies, Inc. Price, Consensus and EPS Surprise | Lowe's Companies, Inc. Quote
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has increased by 2 cents in the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 0.2%.
Revenues: Lowe's generated total sales of $16,860 million that increased 10.7% year over year, but came below the Zacks Consensus Estimate of $17,037 million. Comparable sales grew 1.9% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to rise 3.5% for fiscal 2017.
Key Events: Lowe's, which operated 2,137 home improvement and hardware outlets as of May 5, bought back $1.2 billion of shares under its buyback program and paid $304 million in dividends in the fiscal first quarter.
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 Rank (Strong Buy) stocks here.
Stock Movement: Lowe’s shares are down nearly 6.5% during pre-market trading hours following the earnings release.
Check back later for our full write up on Lowe’s earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>