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Home Depot (HD) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw Home Depot (HD - Free Report) ending at $358.43, denoting a +0.76% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
Coming into today, shares of the home-improvement retailer had gained 1.4% in the past month. In that same time, the Retail-Wholesale sector gained 1.56%, while the S&P 500 gained 1.56%.
Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 20, 2024. The company's upcoming EPS is projected at $2.76, signifying a 16.36% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $34.55 billion, indicating a 3.58% decline compared to the corresponding quarter of the prior year.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.05 per share and revenue of $152.43 billion. These results would represent year-over-year changes of -9.83% and -3.16%, respectively.
It is also important to note the recent changes to analyst estimates for Home Depot. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.02% higher. Right now, Home Depot possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 23.63. This valuation marks a premium compared to its industry's average Forward P/E of 13.05.
We can additionally observe that HD currently boasts a PEG ratio of 2.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Retail industry had an average PEG ratio of 2.1.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Home Depot (HD - Free Report) ending at $358.43, denoting a +0.76% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
Coming into today, shares of the home-improvement retailer had gained 1.4% in the past month. In that same time, the Retail-Wholesale sector gained 1.56%, while the S&P 500 gained 1.56%.
Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 20, 2024. The company's upcoming EPS is projected at $2.76, signifying a 16.36% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $34.55 billion, indicating a 3.58% decline compared to the corresponding quarter of the prior year.
HD's full-year Zacks Consensus Estimates are calling for earnings of $15.05 per share and revenue of $152.43 billion. These results would represent year-over-year changes of -9.83% and -3.16%, respectively.
It is also important to note the recent changes to analyst estimates for Home Depot. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.02% higher. Right now, Home Depot possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Home Depot is currently trading at a Forward P/E ratio of 23.63. This valuation marks a premium compared to its industry's average Forward P/E of 13.05.
We can additionally observe that HD currently boasts a PEG ratio of 2.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Building Products - Retail industry had an average PEG ratio of 2.1.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.