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Home Depot (HD) Stock Moves -0.42%: What You Should Know
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Home Depot (HD - Free Report) ended the recent trading session at $345.08, demonstrating a -0.42% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The the stock of home-improvement retailer has risen by 6.95% in the past month, leading the Retail-Wholesale sector's gain of 5.05% and the S&P 500's gain of 4%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on February 20, 2024. On that day, Home Depot is projected to report earnings of $2.75 per share, which would represent a year-over-year decline of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $34.55 billion, down 3.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.05 per share and a revenue of $152.43 billion, indicating changes of -9.83% and -3.16%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Home Depot. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. As of now, Home Depot holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 23.02. This valuation marks a premium compared to its industry's average Forward P/E of 13.02.
Also, we should mention that HD has a PEG ratio of 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Building Products - Retail industry had an average PEG ratio of 2.08.
The Building Products - Retail industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 169, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Home Depot (HD) Stock Moves -0.42%: What You Should Know
Home Depot (HD - Free Report) ended the recent trading session at $345.08, demonstrating a -0.42% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The the stock of home-improvement retailer has risen by 6.95% in the past month, leading the Retail-Wholesale sector's gain of 5.05% and the S&P 500's gain of 4%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on February 20, 2024. On that day, Home Depot is projected to report earnings of $2.75 per share, which would represent a year-over-year decline of 16.67%. Our most recent consensus estimate is calling for quarterly revenue of $34.55 billion, down 3.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $15.05 per share and a revenue of $152.43 billion, indicating changes of -9.83% and -3.16%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Home Depot. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.04% upward. As of now, Home Depot holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 23.02. This valuation marks a premium compared to its industry's average Forward P/E of 13.02.
Also, we should mention that HD has a PEG ratio of 2.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Building Products - Retail industry had an average PEG ratio of 2.08.
The Building Products - Retail industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 169, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.