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Home Depot (HD) Stock Moves -0.62%: What You Should Know
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Home Depot (HD - Free Report) closed at $357.68 in the latest trading session, marking a -0.62% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.23%. Meanwhile, the Dow experienced a drop of 1.36%, and the technology-dominated Nasdaq saw a decrease of 1.4%.
Shares of the home-improvement retailer witnessed a loss of 4.65% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.06% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.60, showcasing a 5.76% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $36.66 billion, indicating a 1.6% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.38 per share and a revenue of $154.53 billion, representing changes of +1.79% and +1.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Home Depot is at present trading with a Forward P/E ratio of 23.4. Its industry sports an average Forward P/E of 14.44, so one might conclude that Home Depot is trading at a premium comparatively.
We can also see that HD currently has a PEG ratio of 2.4. 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. The Building Products - Retail was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons 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.
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) Stock Moves -0.62%: What You Should Know
Home Depot (HD - Free Report) closed at $357.68 in the latest trading session, marking a -0.62% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.23%. Meanwhile, the Dow experienced a drop of 1.36%, and the technology-dominated Nasdaq saw a decrease of 1.4%.
Shares of the home-improvement retailer witnessed a loss of 4.65% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 0.06% and the S&P 500's gain of 1.61%.
Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.60, showcasing a 5.76% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $36.66 billion, indicating a 1.6% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $15.38 per share and a revenue of $154.53 billion, representing changes of +1.79% and +1.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has moved 0.14% lower. Home Depot is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Home Depot is at present trading with a Forward P/E ratio of 23.4. Its industry sports an average Forward P/E of 14.44, so one might conclude that Home Depot is trading at a premium comparatively.
We can also see that HD currently has a PEG ratio of 2.4. 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. The Building Products - Retail was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 65, finds itself in the top 26% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.