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Home Depot (HD) Stock Sinks As Market Gains: What You Should Know
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Home Depot (HD - Free Report) closed at $287.93 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's 0.05% gain on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.02%.
Heading into today, shares of the home-improvement retailer had gained 0.35% over the past month, lagging the Retail-Wholesale sector's gain of 1.63% and the S&P 500's gain of 1.18% in that time.
Wall Street will be looking for positivity from Home Depot as it approaches its next earnings report date. This is expected to be May 16, 2023. The company is expected to report EPS of $3.83, down 6.36% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $38.63 billion, down 0.72% from the prior-year quarter.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.82 per share and revenue of $157.17 billion. These results would represent year-over-year changes of -5.21% and -0.15%, respectively.
Investors should also note any recent changes to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Home Depot is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Home Depot has a Forward P/E ratio of 18.3 right now. This represents a premium compared to its industry's average Forward P/E of 13.21.
Also, we should mention that HD has a PEG ratio of 1.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HD's industry had an average PEG ratio of 1.7 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HD in the coming trading sessions, be sure to utilize Zacks.com.
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Home Depot (HD) Stock Sinks As Market Gains: What You Should Know
Home Depot (HD - Free Report) closed at $287.93 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's 0.05% gain on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, added 6.02%.
Heading into today, shares of the home-improvement retailer had gained 0.35% over the past month, lagging the Retail-Wholesale sector's gain of 1.63% and the S&P 500's gain of 1.18% in that time.
Wall Street will be looking for positivity from Home Depot as it approaches its next earnings report date. This is expected to be May 16, 2023. The company is expected to report EPS of $3.83, down 6.36% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $38.63 billion, down 0.72% from the prior-year quarter.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.82 per share and revenue of $157.17 billion. These results would represent year-over-year changes of -5.21% and -0.15%, respectively.
Investors should also note any recent changes to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Home Depot is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Home Depot has a Forward P/E ratio of 18.3 right now. This represents a premium compared to its industry's average Forward P/E of 13.21.
Also, we should mention that HD has a PEG ratio of 1.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HD's industry had an average PEG ratio of 1.7 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HD in the coming trading sessions, be sure to utilize Zacks.com.