The Company shares has received a rating of Buy from 10 Wall Street Analysts. First Eagle added to its portfolio holding in Home Depot buying 900,077 shares.
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Home Depot Inc. on Tuesday posted higher profit and sales, also citing spending from homeowners on big-ticket items. Let’s take a closer look at the earnings. Revenue for the quarter beat analysts’ consensus estimate by $110 million and earnings per share were in line with consensus.
The company said it now expected sales to grow about 5.2-6.0 percent, higher than the 4.2-4.8 percent it forecast earlier, partly due to the $1.63 billion acquisition of home products supplier Interline Brands Inc last month. The stock has a market capitalization of $159.51 billion and a P/E ratio of 24.93.
Revenue for the quarter was up 4.2% from the year-ago quarter.
Considering all aforementioned factors, the company raised its sales and earnings outlook for fiscal 2015. That deal is expected to complete in the third quarter.
“The sales were decent, good”, Nagel said. The building material and lumber segment is the company’s second largest and accounted for 12% of its total sales during 2014.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 18th.
CFO Carol Tome revealed that the quarter got progressively better as it went on.
Sales at outlets open at least a year, a key metric to analyze retail chain’s performance, more commonly known as comparable store sales (comps) increased to 4.2% during the quarter. Moreover, it seems that the positive momentum is likely to carry through into future quarters. “However, we continue to hear that builders face difficulties accessing land and labor”. Our stocks momentum model is shown on the price chart below. The Home Depot stores average approximately 104,000 square feet of enclosed space, with about of outside garden area. that is feet 24,000 additional square The Home Depot shops serve three main customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
Furthermore, the weaker sales figures in the quarter came from categories that would have been affected by the rainy weather. The outdoor power equipment segment includes generators and chainsaws.
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And while retailers in the business of selling apparel aren’t feeling quite the same love from consumers, Home Depot is selling a lot of what they are willing to spend their dollars on. The ongoing boom across the US housing sector has assisted the home improvements company post sturdy revenues and earnings.
