LOWE’S REPORTS MIXED Q4 RESULTS, STOCK ABOVE MA5
Lowe’s stock is currently trading at 106.74-higher by 1.67% as compared to the previous closing price.
The company on Wednesday morning delivered a mixed earnings report for the fourth quarter. Lowe’s, however, soothed investors’ concerns by hinting at early signs of strength in its spring business and continued strength in the U.S. in 2019.
The company generated EPS (excluded one-time items) of 80 cents for the fourth quarter. The EPS was above the market expectation of 79 cents. Lowe’s brought in $15.65 billion in revenue for the fourth quarter. The revenue was below the consensus estimates of $15.74 billion.
The company is calling for EPS of between $6 and $6.10 in fiscal 2019. The markets had been expecting $6.04 per share. Lowe’s says it expects annual revenue to be up about 2%, and same-store sales to rise about 3% this year.
On the technical front, the RSI is currently at 71.7% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 106.20 TAKE PROFIT AT 108.20 STOP LOSS AT 105.20