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Home Depot (HD) Stock Moves -1.67%: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Home Depot (HD) closed at $246.13, marking a -1.67% move from the previous day. This change was narrower than the S&P 500's 2.59% loss on the day. At the same time, the Dow lost 2.72%, and the tech-heavy Nasdaq lost 2.19%.

Wall Street will be looking for positivity from HD as it approaches its next earnings report date. In that report, analysts expect HD to post earnings of $3.23 per share. This would mark year-over-year growth of 1.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $32.88 billion, up 6.61% from the year-ago period.

HD's full-year Zacks Consensus Estimates are calling for earnings of $9.91 per share and revenue of $115.40 billion. These results would represent year-over-year changes of -3.32% and +4.7%, respectively.

Investors might also notice recent changes to analyst estimates for HD. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.07% higher. HD is currently a Zacks Rank #3 (Hold).

Digging into valuation, HD currently has a Forward P/E ratio of 25.26. This valuation marks a premium compared to its industry's average Forward P/E of 20.21.

We can also see that HD currently has a PEG ratio of 2.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Retail industry currently had an average PEG ratio of 1.3 as of yesterday's close.

The Building Products - Retail industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.

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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Zacks Investment Research