This Resilient Dividend Stock Looks Like a Buy
Hot inflation numbers in recent months, the prospect of upcoming interest rate hikes, and fears of a housing slowdown have punished the home improvement sector. For instance, Dividend King Lowe's Companies (NYSE: LOW) is down 33% so far this year -- worse than the S&P 500 index's 24% drop.
But the recent 31.3% hike in Lowe's quarterly dividend per share to $1.05 suggests that management is confident about the company's future. Let's dig into Lowe's fundamentals to learn why management is so optimistic.
Lowe's report $23.7 billion in net sales during the first quarter ended April 29, which was a 3.1% decline over the year-ago period. The home improvement retailer came up just shy of the $23.7 billion average analyst net sales estimate for the quarter. But Lowe's has still surpassed the analyst net sales consensus in eight out of the last 10 quarters.
Source Fool.com
