We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Home Depot's 4Q Revenue Up 5.8% Behind Strong Home Buying Market
Read MoreHide Full Article
Shares of Home Depot Inc. (HD - Free Report) have continued to rise as the company reported higher than expected sales on the back of housing market growth. Home Depot rose 1.41% to $145.02 per share in after-hours trading Tuesday. More impressively, its shares have risen 12% over the past three months.
The Atlanta-based home improvement giant posted fourth quarter 2016 earnings per share of $1.44 on revenue of $22.2 billion, which beat the Zacks consensus of 21.8 billion. Its revenue grew 5.8% year-over-year. The company’s full-year 2016 revenue was $94.6 billion, up 6.9% from the year prior.
Home Depot posted a fourth quarter profit of $1.7 billion and is currently a Zacks Rank #3 (HOLD). The company also authorized a $15 billion share repurchase program.
At the end of the fourth quarter, the world's largest home improvement retailer reported it operated a total of 2,278 retail stores in all 50 states, Mexico, Canada and more. Home Depot’s sales per square foot rose 5.7%.
Home Depot’s same-store sales rose 5.8% in the fourth quarter. The strong housing market encouraged bigger home-improvement projects and more in-store spending. Low mortgage rates have kept the increasingly costly U.S. housing market somewhat attainable.
"Our focus on providing localized and innovative product selection, improving the interconnected customer experience, and driving productivity resulted in record sales and net earnings for 2016," President and CEO Craig Menear said in a press release.
"Our associates responded to a healthy housing market and strong customer demand, and I'd like to thank them for their execution, hard work and continued dedication to our customers."
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Home Depot's 4Q Revenue Up 5.8% Behind Strong Home Buying Market
Shares of Home Depot Inc. (HD - Free Report) have continued to rise as the company reported higher than expected sales on the back of housing market growth. Home Depot rose 1.41% to $145.02 per share in after-hours trading Tuesday. More impressively, its shares have risen 12% over the past three months.
The Atlanta-based home improvement giant posted fourth quarter 2016 earnings per share of $1.44 on revenue of $22.2 billion, which beat the Zacks consensus of 21.8 billion. Its revenue grew 5.8% year-over-year. The company’s full-year 2016 revenue was $94.6 billion, up 6.9% from the year prior.
Home Depot posted a fourth quarter profit of $1.7 billion and is currently a Zacks Rank #3 (HOLD). The company also authorized a $15 billion share repurchase program.
At the end of the fourth quarter, the world's largest home improvement retailer reported it operated a total of 2,278 retail stores in all 50 states, Mexico, Canada and more. Home Depot’s sales per square foot rose 5.7%.
Home Depot’s same-store sales rose 5.8% in the fourth quarter. The strong housing market encouraged bigger home-improvement projects and more in-store spending. Low mortgage rates have kept the increasingly costly U.S. housing market somewhat attainable.
"Our focus on providing localized and innovative product selection, improving the interconnected customer experience, and driving productivity resulted in record sales and net earnings for 2016," President and CEO Craig Menear said in a press release.
"Our associates responded to a healthy housing market and strong customer demand, and I'd like to thank them for their execution, hard work and continued dedication to our customers."
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>