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Home Depot (HD) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Home Depot (HD - Free Report) closed at $319.73, marking a +1.21% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Prior to today's trading, shares of the home-improvement retailer had lost 0.49% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 6.09% and the S&P 500's loss of 5.98% in that time.
Wall Street will be looking for positivity from Home Depot as it approaches its next earnings report date. On that day, Home Depot is projected to report earnings of $3.28 per share, which would represent year-over-year growth of 2.18%. Meanwhile, our latest consensus estimate is calling for revenue of $35.97 billion, up 0.71% from the prior-year quarter.
HD's full-year Zacks Consensus Estimates are calling for earnings of $16.64 per share and revenue of $157.45 billion. These results would represent year-over-year changes of +7.15% and +4.16%, respectively.
It is also important to note the recent changes to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Home Depot currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Home Depot currently has a Forward P/E ratio of 18.99. Its industry sports an average Forward P/E of 9.42, so we one might conclude that Home Depot is trading at a premium comparatively.
It is also worth noting that HD currently has a PEG ratio of 1.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HD's industry had an average PEG ratio of 1.69 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 100, which puts it in the top 40% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Home Depot (HD) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Home Depot (HD - Free Report) closed at $319.73, marking a +1.21% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.
Prior to today's trading, shares of the home-improvement retailer had lost 0.49% over the past month. This has was narrower than the Retail-Wholesale sector's loss of 6.09% and the S&P 500's loss of 5.98% in that time.
Wall Street will be looking for positivity from Home Depot as it approaches its next earnings report date. On that day, Home Depot is projected to report earnings of $3.28 per share, which would represent year-over-year growth of 2.18%. Meanwhile, our latest consensus estimate is calling for revenue of $35.97 billion, up 0.71% from the prior-year quarter.
HD's full-year Zacks Consensus Estimates are calling for earnings of $16.64 per share and revenue of $157.45 billion. These results would represent year-over-year changes of +7.15% and +4.16%, respectively.
It is also important to note the recent changes to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Home Depot currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Home Depot currently has a Forward P/E ratio of 18.99. Its industry sports an average Forward P/E of 9.42, so we one might conclude that Home Depot is trading at a premium comparatively.
It is also worth noting that HD currently has a PEG ratio of 1.69. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. HD's industry had an average PEG ratio of 1.69 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 100, which puts it in the top 40% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.