UBS Raises Price Target on Lowe's Cos. (LOW) to $88 Following 1Q; Reiterates Buy
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Lowe's Reports First Quarter Sales And Earnings Results
May 18, 2016 6:00 AM EDTMOORESVILLE, N.C., May 18, 2016 /PRNewswire/ --Â Lowe's Companies, Inc. (NYSE: LOW) today reported net earnings of $884 million for the quarter ended April 29, 2016, a 31.4 percent increase over the same period a year ago. Diluted earnings per share increased 40.0 percent to $0.98 from $0.70 in the first quarter of 2015.
The first quarter results include an unrealized gain on a foreign currency hedge entered into in advance of the Company's pending RONA acquisition, which increased pre-tax earnings for the first quarter by $160 million and... More
