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Home Depot (HD) Stock Moves -1.16%: What You Should Know
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Home Depot (HD - Free Report) closed at $352.96 in the latest trading session, marking a -1.16% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Shares of the home-improvement retailer witnessed a gain of 3.48% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 1.31% and the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. The company's earnings per share (EPS) are projected to be $2.75, reflecting a 16.67% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $34.58 billion, showing a 3.49% drop compared to the year-ago quarter.
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.
Investors should also take note of any recent adjustments to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 23.72. This indicates a premium in contrast to its industry's Forward P/E of 13.63.
It's also important to note that HD currently trades at a PEG ratio of 2.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Building Products - Retail stocks are, on average, holding a PEG ratio of 2.09 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 174, putting it in the bottom 31% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Home Depot (HD) Stock Moves -1.16%: What You Should Know
Home Depot (HD - Free Report) closed at $352.96 in the latest trading session, marking a -1.16% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Meanwhile, the Dow lost 0.82%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Shares of the home-improvement retailer witnessed a gain of 3.48% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 1.31% and the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. The company's earnings per share (EPS) are projected to be $2.75, reflecting a 16.67% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $34.58 billion, showing a 3.49% drop compared to the year-ago quarter.
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.
Investors should also take note of any recent adjustments to analyst estimates for Home Depot. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Home Depot is currently exchanging hands at a Forward P/E ratio of 23.72. This indicates a premium in contrast to its industry's Forward P/E of 13.63.
It's also important to note that HD currently trades at a PEG ratio of 2.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Building Products - Retail stocks are, on average, holding a PEG ratio of 2.09 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 174, putting it in the bottom 31% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.