Home Depot (HD) Gains As Market Dips: What You Should Know

In the latest trading session, Home Depot (HD) closed at $336.97, marking a +0.79% move from the previous day. This change outpaced the S&P 500’s 0.69% loss on the day.

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Prior to today’s trading, shares of the home-improvement retailer had gained 0.72% over the past month. This has outpaced the Retail-Wholesale sector’s loss of 5.22% and the S&P 500’s loss of 2.58% in that time.

HD will be looking to display strength as it nears its next earnings release, which is expected to be November 16, 2021. The company is expected to report EPS of $3.32, up 4.4% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $34.46 billion, up 2.77% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.50 per share and revenue of $145.45 billion. These totals would mark changes of +20.53% and +10.1%, respectively, from last year.

Investors should also note any 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.

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. The Zacks Consensus EPS estimate has moved 0.34% higher within the past month. HD is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, HD currently has a Forward P/E ratio of 23.05. Its industry sports an average Forward P/E of 16.17, so we one might conclude that HD is trading at a premium comparatively.

Meanwhile, HD’s PEG ratio is currently 2.37. 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 was holding an average PEG ratio of 1.83 at yesterday’s closing price.

The Building Products – Retail industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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The Home Depot, Inc. (HD): Free Stock Analysis Report

 

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