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In the pre-market trading session, Lowe’s stock was trading at 120.40-higher by 1.59% as compared to the previous closing price.
The home-improvement retailer on Wednesday morning delivered a mixed earnings report for the fourth quarter. The company generated EPS (excluded one-time items) of 94 cents for the fourth quarter. The EPS was above the market expectation of 91 cents. Lowe’s brought in $16.03 billion in revenue for the quarter ended 31st January. The revenue was, however, below the consensus estimates of $16.15 billion. Sales at stores open for at least 12 months were up 2.5%, below the expected growth of 3.6%.
The company said that EPS will be $6.45 to $6.65 in fiscal 2020 on an adjusted basis. The markets had been expecting EPS of $6.34 to $6.92 for the year. The home improvement retailer says it expects same-store sales to rise by 3% to 3.5% this year. Shares of Lowe’s have fallen 1.04% years-to-date.
On the technical front, the current price is below the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards. The stock is expected to trade higher today.
TRADE SUGGESTION- LIMIT BUY AT 120.10 TAKE PROFIT AT 121.90 STOP LOSS AT 119.20