NEW YORK (TheStreet) -- Lowe's Companies (LOW) shares are up 4.73% to $61.40 in pre-market trading on Wednesday after the home improvement retailer posted its third quarter financial results before the opening bell today.
Lowe's reported third quarter earnings of 59 cents per diluted share, one cent better than the 58 cents per diluted share analysts were expecting them to earn for the period.
Same store sales, an important metric of the retail industry's health, increased 5.1% during the period, better than the 4% analysts were expecting the company to report. The company in turn increased its earnings outlook for the year to $2.68 per diluted share from its previous view of $2.63 per share.
TheStreet Ratings team rates LOWE'S COMPANIES INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LOWE'S COMPANIES INC (LOW) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."