Lowe's Companies Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.57 per share missed the Zacks Consensus Estimate of $1.62 but jumped 14.6% year over year.
Management expects earnings in the range of $4.20 to $4.30 per share for fiscal 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a slight downtrend 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 1.7%.
Revenues: Lowe's generated total revenue of $19,495 million that increased 6.8% year over year but lagged the Zacks Consensus Estimate of $19,524 million. Comparable sales jumped 4.5% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.
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 down nearly 6% 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 Companies Inc. (LOW - Free Report) , one of the largest home improvement retailers, came out with second-quarter fiscal 2017 results, wherein adjusted earnings of $1.57 per share missed the Zacks Consensus Estimate of $1.62 but jumped 14.6% year over year.
Management expects earnings in the range of $4.20 to $4.30 per share for fiscal 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has been portraying a slight downtrend 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 1.7%.
Revenues: Lowe's generated total revenue of $19,495 million that increased 6.8% year over year but lagged the Zacks Consensus Estimate of $19,524 million. Comparable sales jumped 4.5% during the quarter.
Management expects total sales growth of nearly 5% and comparable sales to increase 3.5% for fiscal 2017.
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 down nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Lowe’s earnings report!
4 Surprising Tech Stocks to Keep an Eye on
Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without. More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off.
See Stocks Now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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