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Home Depot (HD - Free Report) ended the recent trading session at $356.25, demonstrating a +0.31% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow saw an upswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.07%.
Coming into today, shares of the home-improvement retailer had gained 2.07% in the past month. In that same time, the Retail-Wholesale sector gained 6.9%, while the S&P 500 gained 5.3%.
Market participants will be closely following the financial results of Home Depot in its upcoming release. The company plans to announce its earnings on February 20, 2024. It is anticipated that the company will report an EPS of $2.75, marking a 16.67% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $34.58 billion, showing a 3.49% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Currently, Home Depot is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Home Depot currently has a Forward P/E ratio of 22.67. This signifies a premium in comparison to the average Forward P/E of 13.76 for its industry.
Investors should also note that HD has a PEG ratio of 2.54 right now. 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. The average PEG ratio for the Building Products - Retail industry stood at 2.05 at the close of the market yesterday.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Home Depot (HD) Laps the Stock Market: Here's Why
Home Depot (HD - Free Report) ended the recent trading session at $356.25, demonstrating a +0.31% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow saw an upswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.07%.
Coming into today, shares of the home-improvement retailer had gained 2.07% in the past month. In that same time, the Retail-Wholesale sector gained 6.9%, while the S&P 500 gained 5.3%.
Market participants will be closely following the financial results of Home Depot in its upcoming release. The company plans to announce its earnings on February 20, 2024. It is anticipated that the company will report an EPS of $2.75, marking a 16.67% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $34.58 billion, showing a 3.49% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Currently, Home Depot is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Home Depot currently has a Forward P/E ratio of 22.67. This signifies a premium in comparison to the average Forward P/E of 13.76 for its industry.
Investors should also note that HD has a PEG ratio of 2.54 right now. 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. The average PEG ratio for the Building Products - Retail industry stood at 2.05 at the close of the market yesterday.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.