Yahoo Finance Home Depot (HD) Stock Moves -0.31%: What You Should Know
Home Depot (HD) closed at $331.98 in the latest trading session, marking a -0.31% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
The home-improvement retailer's stock has dropped by 13.7% in the past month, falling short of the Retail-Wholesale sector's loss of 3.05% and the S&P 500's loss of 3.04%.
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 May 14, 2024. It is anticipated that the company will report an EPS of $3.61, marking a 5.5% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $36.69 billion, showing a 1.53% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $15.37 per share and revenue of $154.56 billion. These totals would mark changes of +1.72% and +1.24%, respectively, from last 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% lower. Home Depot is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Home Depot has a Forward P/E ratio of 21.66 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.76.
It is also worth noting that HD currently has a PEG ratio of 2.22. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Building Products - Retail industry was having an average PEG ratio of 1.96.
The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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The Home Depot, Inc. (HD) : Free Stock Analysis Report
