Why Lowe's Shares Are Trading Lower Today

Lowe's Companies Inc LOW is trading lower Wednesday morning after the company issued full-year 2021 and full-year 2022 guidance.

Lowe's expects 2021 revenue to come in around $95 billion.

The company expects 2022 earnings to be in a range of $12.25 to $13 per share versus the estimate of $11.95 per share. Lowe's expects 2022 revenue to be in a range of $94 billion to $97 billion versus the estimate of $95.65 billion.

Lowe's board of directors also authorized a new $13 billion share repurchase program "based on its confidence in the company's continued growth trajectory and cash flow generation capabilities."

"We are confident in the long-term growth prospects for the Home Improvement market, and that we are making the right investments to continue winning with both our Pro and DIY customers.  We also remain committed to driving sustainable shareholder value creation through a disciplined and highly effective capital allocation strategy," said Marvin Ellison, president and CEO of Lowe's.

See Also: Watch for Continued Gains in Shares of Lowe's Companies Inc.

LOW Price Action: Lowe's has traded as high as $263.31 and as low as $150.84 over a 52-week period.

The stock was down 3.47% at $243.39 at time of publication.

Photo: Mike Mozart from Flickr.