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Home Depot (HD) Rises Higher Than Market: Key Facts
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Home Depot (HD - Free Report) closed at $350.97 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
The home-improvement retailer's stock has dropped by 0.36% in the past month, falling short of the Retail-Wholesale sector's gain of 0.63% and the S&P 500's gain of 2.48%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on February 20, 2024. The company is expected to report EPS of $2.75, down 16.67% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $34.58 billion, indicating a 3.49% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $15.05 per share and a revenue of $152.46 billion, demonstrating changes of -9.83% and -3.14%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Home Depot holds a Zacks Rank of #3 (Hold).
With respect to valuation, Home Depot is currently being traded at a Forward P/E ratio of 23.07. This valuation marks a premium compared to its industry's average Forward P/E of 12.93.
It is also worth noting that HD currently has a PEG ratio of 2.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HD's industry had an average PEG ratio of 2.04 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 33% 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.
To follow HD in the coming trading sessions, be sure to utilize Zacks.com.
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Home Depot (HD) Rises Higher Than Market: Key Facts
Home Depot (HD - Free Report) closed at $350.97 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.19%.
The home-improvement retailer's stock has dropped by 0.36% in the past month, falling short of the Retail-Wholesale sector's gain of 0.63% and the S&P 500's gain of 2.48%.
The upcoming earnings release of Home Depot will be of great interest to investors. The company's earnings report is expected on February 20, 2024. The company is expected to report EPS of $2.75, down 16.67% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $34.58 billion, indicating a 3.49% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $15.05 per share and a revenue of $152.46 billion, demonstrating changes of -9.83% and -3.14%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Home Depot holds a Zacks Rank of #3 (Hold).
With respect to valuation, Home Depot is currently being traded at a Forward P/E ratio of 23.07. This valuation marks a premium compared to its industry's average Forward P/E of 12.93.
It is also worth noting that HD currently has a PEG ratio of 2.58. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. HD's industry had an average PEG ratio of 2.04 as of yesterday's close.
The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 33% 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.
To follow HD in the coming trading sessions, be sure to utilize Zacks.com.