Why the Market Dipped But Home Depot (HD) Gained Today

Home Depot (HD) closed at $409.33 in the latest trading session, marking a +0.8% move from the prior day. This change outpaced the S&P 500's 0.21% loss on the day. Meanwhile, the Dow experienced a drop of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.89%.Shares of the home-improvement retailer witnessed a gain of 3.12% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 2.84% and the S&P 500's loss of 1.56%.Investors will be eagerly watching for the performance of Home Depot in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 25, 2025. On that day, Home Depot is projected to report earnings of $3.01 per share, which would represent year-over-year growth of 6.74%. Alongside, our most recent consensus estimate is anticipating revenue of $38.81 billion, indicating a 11.56% upward movement from the same quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.12 per share and a revenue of $158.62 billion, signifying shifts of +0.07% and +3.9%, respectively, from the last year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Home Depot. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Home Depot is currently sporting a Zacks Rank of #2 (Buy).Looking at its valuation, Home Depot is holding a Forward P/E ratio of 26.86. This valuation marks a premium compared to its industry's average Forward P/E of 20.85.We can additionally observe that HD currently boasts a PEG ratio of 4.28. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. HD's industry had an average PEG ratio of 2.18 as of yesterday's close.The Retail - Home Furnishings industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 250 industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks