Why Home Depot (HD) is a Top Stock for the Long-Term
Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Home Depot (HD)
Based on net sales, The Home Depot Inc. is the world’s largest home improvement specialty retailer with 2,317 retail stores across the globe as of the end of fiscal 2021. It offers a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, décor products and related services.
Since being added to the Zacks Focus List on October 15, 2015 at $120.27 per share, shares of HD have increased 204.38% to $366.08.
One analyst revised their earnings estimate higher in the last 60 days for fiscal 2025, while the Zacks Consensus Estimate has increased $0.01 to $15.30. HD also boasts an average earnings surprise of 2%.
Earnings for Home Depot are forecasted to see growth of 1.3% for the current fiscal year as well.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like HD, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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The Home Depot, Inc. (HD) : Free Stock Analysis Report