Yahoo Finance Top Stock Reports for Home Depot, T-Mobile & General Electric
Tuesday, March 5, 2024
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including The Home Depot, Inc. (HD), T-Mobile US, Inc. (TMUS) and General Electric Co. (GE). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Home Depot’s shares have outperformed the Zacks Building Products - Retail industry over the past year (+31.1% vs. +30.0%). The company has been witnessing benefits from the execution of the “One Home Depot” investment plan, which focuses on expanding supply chain facilities, technology investments and enhancement to the digital experience.
The interconnected retail strategy and underlying technology infrastructure have helped consistently boost web traffic for the past few quarters. It is on track with its strategic investments to build a Pro ecosystem.
However, Home Depot's top and bottom-lines declined year over year in third-quarter fiscal 2023. Results were impacted by deflation in lumber and copper prices and pressures from softness in big-ticket discretionary categories, which weighed on comps.
(You can read the full research report on Home Depot here >>>)
Shares of T-Mobile have outperformed the Zacks Wireless National industry over the past year (+14.6% vs. +6.6%). The company recorded 5.7 million postpaid net customer additions and 2.1 million high-speed Internet net customer additions in fiscal 2023. Both metrics are the best in the industry.
T-Mobile’s 5G coverage exceeds 330 million people, a greater footprint than AT&T and Verizon combined. A higher adjusted free cash flow highlights efficiency in operations and implies that the company is well-positioned to invest in growth initiatives, pay debts and dividends.
However, lower sales of prepaid and Assurance Wireless devices affected revenue from Equipment sales. Weak demand for prepaid services and declining prepaid ARPU is a headwind. A high debt burden and macroeconomic challenges remain concerns.
(You can read the full research report on T-Mobile here >>>)
General Electric’s shares have outperformed the Zacks Diversified Operations industry over the past year (+85.3% vs. +13.2%). The company has been witnessing strength in its Aerospace segment, driven by robust demand for commercial engines and services. With strength in GE Gas Power services and growth in Grid and Onshore Wind businesses in North America, signs of improvement in GE Vernova (the combined operations of GE Power and Renewable) hold promise.
Acquisitions made over time are also likely to be beneficial. Shares of the company have outperformed the industry in the past six months. However, it has been dealing with high costs and operating expenses, which might affect its margins and profitability.
Softness in the company’s Offshore wind business acts as a hindrance to the Renewable Energy segment. Supply chain disruptions in the defense market continue to take a toll on its operations. Also, foreign exchange headwinds might be worrying.
(You can read the full research report on General Electric here >>>)
Other noteworthy reports we are featuring today include Qualcomm Inc. (QCOM), Lockheed Martin Corp. (LMT) and ICICI Bank Ltd. (IBN).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Home Depot's (HD) Interconnected Strategy to Boost Sales
T-Mobile (TMUS) Up on Solid Customer Growth, Cost Discipline
Strength in Aerospace Segment Drives General Electric (GE)
Featured Reports
Qualcomm (QCOM) Rides on AI Chips, 5G & Automotive Traction
Per the Zacks analyst, Qualcomm is likely to benefit from the launch of AI-based chips, healthy 5G traction and a solid momentum in IoT as it aims to gain a firmer footing in the automotive business.
Solid Orders Aid Lockheed Martin (LMT), Labor Shortages Ail
Per the Zacks analyst, increased orders for Lockheed's products resulted in a record backlog of $160.6 billion in 2023. Yet, shortage of labor, especially skilled labor poses a threat for Lockheed.
Technology, Loans Support ICICI Bank (IBN), High Costs a Woe
Per the Zacks analyst, ICICI Bank's efforts to digitize operations, rising rates and steady loan and deposit growth will aid profitability. Yet, weak credit quality and higher costs are key headwinds.
Pet-Care Portfolio Boost Zoetis (ZTS), Disease Outbreaks A Woe
Per the Zacks Analyst, the companion animal product sales are expected to boost Zoetis in the quarters ahead. Potential supply challenges and disease outbreaks could, however, hurt prospects.
AIG Benefits From Strong General Insurance, High Costs Hurt
The Zacks Analyst expects American International's General Insurance business to benefit from new business growth and rate increases. However, elevated expenses might strain margins.
Hewlett Packard (HPE) Benefits From Spurt in Aruba Services
Per the Zacks analyst, a strong uptick in Aruba Services is driving Hewlett Packard's Intelligent Edge segment, which in turn, helps sustain its supremacy in the market with high growth opportunity.
Nutanix (NTNX) Rides on Solid Hybrid Cloud Solutions Adoption
Per the Zacks analyst,, Nutanix benefits from strong demand for its hybrid cloud solutions and an expanding clientele.
New Upgrades
Ecolab (ECL) Rides on Solid Product Portfolio, Focus on R&D
The Zacks analyst is upbeat about Ecolab's research and development efforts and solid product portfolio.
Industrial Technologies Segment Boosts Ingersoll-Rand (IR)
Per the Zacks analyst, impressive performance of Ingersoll-Rand's Industrial Technologies segment, fueled by higher orders across its portfolio of compressors, will continue to lend momentum to it.
Improving Order Activity & Innovation Drives Textron(TXT)
Per the Zacks analyst, Textron witnessed strong order inflow in 2023 from its commercial and defense segments. Its continuous innovations like the Citation CJ3 Gen2 business jet should boost growth.
New Downgrades
Focus on Multiple Basins to Hurt Ovintiv (OVV)
The Zacks analyst thinks that Ovintiv might benefit from focusing more on its core business by selling off some of its non-core acreage.
Marketing & Product Development Costs Hurt Green Dot (GDOT)
Per the Zacks analyst, Green Dot's increasing expenses toward sales, marketing and product development are likely to keep the bottom line under pressure.
Lower Demand & High Costs Hurt Hasbro's (HAS) Performance
Per the Zacks Analyst, Hasbro's business is being hurt by lower contributions from the Consumer Products and Entertainment segment. Also, high costs and uncertain macroeconomic conditions are concern.
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Lockheed Martin Corporation (LMT) : Free Stock Analysis Report
General Electric Company (GE) : Free Stock Analysis Report
QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report
The Home Depot, Inc. (HD) : Free Stock Analysis Report
ICICI Bank Limited (IBN) : Free Stock Analysis Report
T-Mobile US, Inc. (TMUS) : Free Stock Analysis Report
