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Home Depot (HD) Advances But Underperforms Market: Key Facts
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Home Depot (HD - Free Report) closed the latest trading day at $292.39, indicating a +0.15% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.81%. Elsewhere, the Dow saw an upswing of 0.39%, while the tech-heavy Nasdaq appreciated by 1.35%.
Shares of the home-improvement retailer witnessed a loss of 10.93% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 7.92% and the S&P 500's loss of 6.19%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on November 14, 2023. The company's upcoming EPS is projected at $3.81, signifying a 10.14% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $37.74 billion, down 2.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.24 per share and a revenue of $153.08 billion, demonstrating changes of -8.69% and -2.75%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Home Depot. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 19.15. This represents a premium compared to its industry's average Forward P/E of 11.07.
It is also worth noting that HD currently has a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. HD's industry had an average PEG ratio of 1.85 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 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Home Depot (HD) Advances But Underperforms Market: Key Facts
Home Depot (HD - Free Report) closed the latest trading day at $292.39, indicating a +0.15% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.81%. Elsewhere, the Dow saw an upswing of 0.39%, while the tech-heavy Nasdaq appreciated by 1.35%.
Shares of the home-improvement retailer witnessed a loss of 10.93% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 7.92% and the S&P 500's loss of 6.19%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on November 14, 2023. The company's upcoming EPS is projected at $3.81, signifying a 10.14% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $37.74 billion, down 2.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $15.24 per share and a revenue of $153.08 billion, demonstrating changes of -8.69% and -2.75%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Home Depot. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 19.15. This represents a premium compared to its industry's average Forward P/E of 11.07.
It is also worth noting that HD currently has a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. HD's industry had an average PEG ratio of 1.85 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 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.