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Home Depot (HD) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Home Depot (HD - Free Report) reached $353.29, with a +0.85% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
The home-improvement retailer's stock has climbed by 2.48% in the past month, exceeding the Retail-Wholesale sector's loss of 2.37% and the S&P 500's loss of 0.26%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.58 billion, down 0.79% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.30 per share and revenue of $154.22 billion. These totals would mark changes of +1.26% and +1.02%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Home Depot. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. 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 22.9. This valuation marks a premium compared to its industry's average Forward P/E of 16.22.
We can also see that HD currently has a PEG ratio of 2.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. HD's industry had an average PEG ratio of 2.45 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 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Home Depot (HD) Ascends While Market Falls: Some Facts to Note
In the latest market close, Home Depot (HD - Free Report) reached $353.29, with a +0.85% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
The home-improvement retailer's stock has climbed by 2.48% in the past month, exceeding the Retail-Wholesale sector's loss of 2.37% and the S&P 500's loss of 0.26%.
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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.58 billion, down 0.79% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.30 per share and revenue of $154.22 billion. These totals would mark changes of +1.26% and +1.02%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Home Depot. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. 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 22.9. This valuation marks a premium compared to its industry's average Forward P/E of 16.22.
We can also see that HD currently has a PEG ratio of 2.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. HD's industry had an average PEG ratio of 2.45 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 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.