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Lowe's reported strong earnings despite Pioneer Trust Bank reducing its shares by 7.1%.
Pioneer Trust Bank sold shares of Lowe's Companies, reducing its holding by 7.1%, but Lowe's reported strong earnings of $1.93 per share, exceeding estimates.
The company's revenue was $18.55 billion, slightly above forecasts.
Despite a negative return on equity, Lowe's stock has a "Moderate Buy" consensus with a target price of $280.35.
Recently, StockNews.com downgraded the stock to "hold."
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Lowe ha reportado fuertes ganancias a pesar de que Pioneer Trust Bank redujo sus acciones en un 7,1%.