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Home Depot (HD) Stock Moves -0.02%: What You Should Know
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Home Depot (HD - Free Report) closed at $296.06 in the latest trading session, marking a -0.02% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the home-improvement retailer had gained 4.38% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.11% and lagged the S&P 500's gain of 8.12% in that time.
Investors will be hoping for strength from Home Depot as it approaches its next earnings release, which is expected to be November 15, 2022. On that day, Home Depot is projected to report earnings of $4.96 per share, which would represent year-over-year growth of 26.53%. Meanwhile, our latest consensus estimate is calling for revenue of $37.9 billion, up 2.93% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.64 per share and revenue of $156.53 billion. These totals would mark changes of +7.15% and +3.56%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Home Depot. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.01% higher. Home Depot is currently a Zacks Rank #2 (Buy).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 17.8. For comparison, its industry has an average Forward P/E of 8.21, which means Home Depot is trading at a premium to the group.
Investors should also note that HD has a PEG ratio of 1.58 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. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Home Depot (HD) Stock Moves -0.02%: What You Should Know
Home Depot (HD - Free Report) closed at $296.06 in the latest trading session, marking a -0.02% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.24%, and the Nasdaq, a tech-heavy index, lost 0.09%.
Prior to today's trading, shares of the home-improvement retailer had gained 4.38% over the past month. This has outpaced the Retail-Wholesale sector's gain of 1.11% and lagged the S&P 500's gain of 8.12% in that time.
Investors will be hoping for strength from Home Depot as it approaches its next earnings release, which is expected to be November 15, 2022. On that day, Home Depot is projected to report earnings of $4.96 per share, which would represent year-over-year growth of 26.53%. Meanwhile, our latest consensus estimate is calling for revenue of $37.9 billion, up 2.93% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.64 per share and revenue of $156.53 billion. These totals would mark changes of +7.15% and +3.56%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Home Depot. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 has moved 0.01% higher. Home Depot is currently a Zacks Rank #2 (Buy).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 17.8. For comparison, its industry has an average Forward P/E of 8.21, which means Home Depot is trading at a premium to the group.
Investors should also note that HD has a PEG ratio of 1.58 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. Building Products - Retail stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.