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Lowe's Companies, Inc. (LOW - Free Report) , the home improvement retailer, came out with fourth-quarter fiscal 2017 results, wherein earnings of 74 cents a share missed the Zacks Consensus Estimate of 88 cents, and decreased 14% year over year.
Management now envisions fiscal 2018 earnings in the band of $5.40-$5.50 per share. The current Zacks Consensus Estimate for the fiscal is $5.89, which could witness a downtrend in the coming days.
Revenues: Lowe's generated net sales of $15,494 million that declined 1.8% year over year but came ahead of the Zacks Consensus Estimate of $15,288 million. Comparable sales for the quarter jumped 4.1%.
Management now projects total sales growth of 4% in fiscal 2018. Comparable sales are expected to increase roughly 3.5% for the full year.
Lowe's Companies, Inc. Price, Consensus and EPS Surprise
Key Events: Lowe's plans to open about 10 home improvement and hardware outlets. During the quarter, the company bought back $133 million of shares under its share buyback program and paid $341 million in dividends.
Zacks Rank: Currently, Lowe's carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
Stock Movement: Lowe's shares are down more than 9% during pre-market trading hours following lower-than-expected bottom line results, and soft earnings view.
Check back later for our full write up on Lowe's earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Lowe's (LOW) Q4 Earnings Miss, Sales Surpass Estimates
Lowe's Companies, Inc. (LOW - Free Report) , the home improvement retailer, came out with fourth-quarter fiscal 2017 results, wherein earnings of 74 cents a share missed the Zacks Consensus Estimate of 88 cents, and decreased 14% year over year.
Management now envisions fiscal 2018 earnings in the band of $5.40-$5.50 per share. The current Zacks Consensus Estimate for the fiscal is $5.89, which could witness a downtrend in the coming days.
Revenues: Lowe's generated net sales of $15,494 million that declined 1.8% year over year but came ahead of the Zacks Consensus Estimate of $15,288 million. Comparable sales for the quarter jumped 4.1%.
Management now projects total sales growth of 4% in fiscal 2018. Comparable sales are expected to increase roughly 3.5% for the full year.
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 plans to open about 10 home improvement and hardware outlets. During the quarter, the company bought back $133 million of shares under its share buyback program and paid $341 million in dividends.
Zacks Rank: Currently, Lowe's carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
Stock Movement: Lowe's shares are down more than 9% during pre-market trading hours following lower-than-expected bottom line results, and soft earnings view.
Check back later for our full write up on Lowe's earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>