NEW YORK (TheStreet) --Lowe's (LOW) reported 2016 third-quarter financial results that missed analysts' expectations. Prior to the market open on Wednesday, the Mooresville, NC-based home improvement supplier posted earnings of 86 cents per share, below estimates of 96 cents per share.
Revenue also came in under Wall Street projections at $15.73 billion. The forecast had been revenue of $15.85 billion.
"They missed on the top line, they missed on the bottom line and if I'm reading this press release correctly, it's almost like they are eluding to some type of reset here," Oppenheimer senior equity analyst Brian Nagel said on CNBC's "Squawk Box" this morning.
Nagel pointed to a line in the company's earnings report in which Lowe's indicates a potential shift in its investment strategy, as perhaps hinting at a possible reset.
"This was messy," Nagel added.
Moreover, the results from Lowe's indicated that they were impacted by a weaker consumer and a decline in sales.
"The comment that they made was that sales were weaker than expected in August and September and then improved somewhat in October," Nagel said.
Shares of Lowers were declining in pre-market trading on Wednesday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on Lowe's stock.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity and increase in net income. The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.