Why Lowe's Companies, Inc. Fell on Wednesday
Shares of Lowe's (NYSE: LOW) fell as much as 6.1% on Wednesday, following the home-improvement retailer's second-quarter earnings report. At the time of this writing, the stock is down 5.5%.
Some investors may be taking a pessimistic view toward the stock on Wednesday because both revenue and adjusted earnings per share were lower than analysts were estimating. Lower-than-expected profitability, in particular, may be an investor concern, as the company focused on the "necessary investments to improve the customer experience and drive sales," explained Lowe's CEO Robert Niblock in the company's second-quarter earnings release. This included more aggressive marketing and customer-facing hours in its stores.
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Source: Fool.com
Lowes Companies Inc. Stock
The stock is an absolute favorite of our community with 28 Buy predictions and no Sell predictions.
As a result the target price of 235 € shows a slightly positive potential of 6.79% compared to the current price of 220.05 € for Lowes Companies Inc..
