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Lowe's Companies Inc. Up 5.46% To $220.42 After Earnings Beat

Wednesday, November 16, 2022 11:28 AM | InvestorsObserver Analysts

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Lowe's Companies Inc. Up 5.46% To $220.42 After Earnings Beat

Lowe's Companies Inc. (LOW) said before open Wednesday that it earned $3.27 per share in quarter three 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $23.5 billion, beating estimates by $349 million.

In the same quarter a year ago, the company earned $2.73 per share on revenue of $22.9 billion.

The stock is up 5.46% to $220.42 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Lowe's Companies Inc. a Bullish Sentiment Rank from InvestorsObserver.

Lowe's Companies Inc. has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 79, putting Lowe's Companies Inc. in the top 25% of stocks. The firm set a 52-week low on June 22, 2022 at $170.12 and set a 52-week high on December 13, 2021 at $263.31.

Lowe's is the second-largest home improvement retailer in the world, operating 1,969 stores and servicing around 230 dealer-owned stores throughout the United States and Canada. The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two thirds of products sold. Lowe's targets retail do-it-yourself (around 75% of sales) and do-it-for-me customers as well as commercial and professional business clients (around 25% of sales). We estimate Lowe's captures a low-double-digit share of the domestic home improvement market, based on U.S. Census data and management's estimates for market size.

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