Homebuilder Stock Trading Alert; Lowe's Companies (NYSE:LOW) Gains on Third Quarter Earnings
Category: Investment, Homebuilder
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New York, New York, Point Roberts, WA - November 19, 2012 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research, including homebuilder stocks, issues a trading alert for Lowe's Companies, Inc. (NYSE:LOW), the world's second largest home improvement retailer. The stock is trading at $34.06, gaining $ 2.08 or 6.52% as of 10:36AM EST on just under 11 Million shares following its third quarter earnings report.
Today the company reported net earnings of $396 million for the quarter ended November 2, 2012, a 76.0 percent increase over the same period a year ago. Diluted earnings per share increased 94.4 percent to $0.35. For the nine months ended November 2, 2012, net earnings increased 10.1 percent from the same period a year ago to $1.67 billion, while diluted earnings per share increased 21.4 percent to $1.42.
With fiscal year 2011 sales of $50.2 billion, Lowe's Companies, Inc. is a FORTUNE® 100 company that serves approximately 15 million customers a week at more than 1,745 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. www.Lowes.com.
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