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Home Depot (HD) Rises Higher Than Market: Key Facts
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The latest trading session saw Home Depot (HD - Free Report) ending at $368.16, denoting a +1.23% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.75%, while the tech-heavy Nasdaq appreciated by 2.64%.
Shares of the home-improvement retailer have appreciated by 8.57% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 1.42% and the S&P 500's loss of 0.44%.
Analysts and investors alike will be keeping a close eye on the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to go public 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, our latest consensus estimate is calling for revenue of $42.58 billion, down 0.79% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.30 per share and a revenue of $154.22 billion, representing changes of +1.26% and +1.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Home Depot. Such recent modifications usually signify the changing landscape 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, there's been a 0.13% rise in the Zacks Consensus EPS estimate. At present, Home Depot boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Home Depot is holding a Forward P/E ratio of 23.77. This represents a premium compared to its industry's average Forward P/E of 16.6.
Meanwhile, HD's PEG ratio is currently 2.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Retail industry currently had an average PEG ratio of 2.61 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Home Depot (HD) Rises Higher Than Market: Key Facts
The latest trading session saw Home Depot (HD - Free Report) ending at $368.16, denoting a +1.23% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 1.08%. Elsewhere, the Dow saw an upswing of 0.75%, while the tech-heavy Nasdaq appreciated by 2.64%.
Shares of the home-improvement retailer have appreciated by 8.57% over the course of the past month, outperforming the Retail-Wholesale sector's loss of 1.42% and the S&P 500's loss of 0.44%.
Analysts and investors alike will be keeping a close eye on the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to go public 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, our latest consensus estimate is calling for revenue of $42.58 billion, down 0.79% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.30 per share and a revenue of $154.22 billion, representing changes of +1.26% and +1.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Home Depot. Such recent modifications usually signify the changing landscape 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, there's been a 0.13% rise in the Zacks Consensus EPS estimate. At present, Home Depot boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Home Depot is holding a Forward P/E ratio of 23.77. This represents a premium compared to its industry's average Forward P/E of 16.6.
Meanwhile, HD's PEG ratio is currently 2.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Retail industry currently had an average PEG ratio of 2.61 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.