(NYSE:HD) reports its Earnings on Today.
After Home Depot reported third-quarter results in November, management expressed optimism about the housing market, saying "we believe home price appreciation, housing turnover, household formation and the aging housing stock in the USA continue to support growth in our business". (The) in a report on Tuesday, November 15th. That's helped Home Depot avoid the malaise that has spread across much of retail, where lackluster demand has weighed on results. (The) from a "sell" rating to a "strong sell" rating and set a $119.51 price objective on the stock.in a research report on Thursday, December 22nd.
"The market had growing fears around trends in the home-improvement category due to rising interest rates and a commensurate drop in mortgage refinancing-which is often used for larger projects", Bloomberg News reported David Schick, Research Director for Consumer Edge Research, as saying by email.
Home Depot shares rose slightly to $143.46. The brokerage firm has raised the Price Target to $ 154 from a previous price target of $150. (The) News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot, Inc.
The 52-week high of the share price is 0.87% and 52-week low of the share price is 52.09%. The firm shows a 20-Day Simple Moving Average of 3.29% with a 200-Day Simple Moving Average of 9.01%. The company claimed that it returned over $67 billion to its shareholders since 2002 by buying back about 1.3 billion shares.
On the company's financial health, Home Depot Inc reported $1.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 21, 2017.
Indeed, the company's fourth-quarter comparable sales growth represented an acceleration from the prior quarter, even as it was up against a 7.1 percent increase from a year earlier. Net profit margin of the company was recorded at 8.2 percent, operating profit margin was 14 percent, whereas gross profit margin stands at 34.2 percent. The number of customer transactions at Home Depot in the quarter rose 2.9% year over year, while average ticket value rose 2.9% and sales per square foot rise 5.7%.
The company issued sales guidance calling for growth of 4.6% year over year. However, the analysts polled by Consensus Metrix were expecting 3.5% growth.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Another sign is the big hike in the dividend payout by 29% to $0.89 per share.
The stock was showing a giant reversal Tuesday and possibly the highs of this cycle. This is a positive change from Home Depot, Inc.