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Home Depot (HD) Falls More Steeply Than Broader Market: What Investors Need to Know
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Home Depot (HD - Free Report) ended the recent trading session at $366.08, demonstrating a -1.56% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.78% for the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
Heading into today, shares of the home-improvement retailer had gained 5.09% over the past month, outpacing the Retail-Wholesale sector's gain of 1.58% and the S&P 500's gain of 2.14% in that time.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on August 13, 2024. The company's earnings per share (EPS) are projected to be $4.60, reflecting a 1.08% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $42.58 billion, down 0.79% from the year-ago period.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.28 per share and revenue of $154.22 billion. These results would represent year-over-year changes of +1.13% and +1.02%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Home Depot presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 24.34. This valuation marks a premium compared to its industry's average Forward P/E of 16.55.
Also, we should mention that HD has a PEG ratio of 2.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Retail industry currently had an average PEG ratio of 2.57 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Home Depot (HD) Falls More Steeply Than Broader Market: What Investors Need to Know
Home Depot (HD - Free Report) ended the recent trading session at $366.08, demonstrating a -1.56% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.78% for the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 0.7%.
Heading into today, shares of the home-improvement retailer had gained 5.09% over the past month, outpacing the Retail-Wholesale sector's gain of 1.58% and the S&P 500's gain of 2.14% in that time.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on August 13, 2024. The company's earnings per share (EPS) are projected to be $4.60, reflecting a 1.08% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $42.58 billion, down 0.79% from the year-ago period.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.28 per share and revenue of $154.22 billion. These results would represent year-over-year changes of +1.13% and +1.02%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Home Depot presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 24.34. This valuation marks a premium compared to its industry's average Forward P/E of 16.55.
Also, we should mention that HD has a PEG ratio of 2.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Building Products - Retail industry currently had an average PEG ratio of 2.57 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 33% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.