NEW YORK (TheStreet) --Shares of Lowe's Companies Inc. (LOW) are down by 5.54% to $67.85 in pre-market trading on Wednesday, after the home improvement retail chain reported earnings for the 2015 first quarter that came in below analysts' expectations.
Lowe's said its earned 70 cents per diluted share, missing the 74 cents per share analysts polled by Thomson Reuters were looking for. Compared to the year-ago first quarter Lowe's earnings improved by 14.8% from the 61 cents per share it reported.
Sales for the first quarter grew by 5.4% to $14.1 billion. Analysts had forecast for revenue of $14.28 billion.
Despite the earnings miss the company is happy with the results for the quarter ended May 2015.
"I am pleased that we executed well and delivered another strong quarter. We generated comparable sales growth in all regions of the country and across all product categories, driving strong earnings per share growth," Lowe's CEO Robert Niblock said in the company's earnings release.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says, "Don't give up on these guys. They got beaten by Home Depot (HD) on plumbing and tools; but they are doing fine. I would be a buyer tomorrow. And I would buy Stanley Black & Decker (SWK) today."
Separately, TheStreet Ratings team rates LOWE'S COMPANIES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: