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Home Depot (HD) Stock Drops Despite Market Gains: Important Facts to Note
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Home Depot (HD - Free Report) closed at $383.60 in the latest trading session, marking a -0.59% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of home-improvement retailer has risen by 2.19% in the past month, lagging the Retail-Wholesale sector's gain of 2.3% and the S&P 500's gain of 3.55%.
Market participants will be closely following the financial results of Home Depot in its upcoming release. The company is forecasted to report an EPS of $3.60, showcasing a 5.76% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $36.66 billion, down 1.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.39 per share and a revenue of $154.53 billion, demonstrating changes of +1.85% and +1.22%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Home Depot's current valuation metrics, including its Forward P/E ratio of 25.07. This represents a premium compared to its industry's average Forward P/E of 14.68.
Investors should also note that HD has a PEG ratio of 2.55 right now. 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. HD's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Home Depot (HD) Stock Drops Despite Market Gains: Important Facts to Note
Home Depot (HD - Free Report) closed at $383.60 in the latest trading session, marking a -0.59% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.12%.
The the stock of home-improvement retailer has risen by 2.19% in the past month, lagging the Retail-Wholesale sector's gain of 2.3% and the S&P 500's gain of 3.55%.
Market participants will be closely following the financial results of Home Depot in its upcoming release. The company is forecasted to report an EPS of $3.60, showcasing a 5.76% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $36.66 billion, down 1.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.39 per share and a revenue of $154.53 billion, demonstrating changes of +1.85% and +1.22%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Home Depot's current valuation metrics, including its Forward P/E ratio of 25.07. This represents a premium compared to its industry's average Forward P/E of 14.68.
Investors should also note that HD has a PEG ratio of 2.55 right now. 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. HD's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.