S&P 500 rises after strong retail data, Home Depot leads Dow higher
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Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Only 111 people have searched for HD on MarketBeat in the last 30 days. Short interest in Home Depot has recently increased by 22.11%, indicating that investor sentiment is decreasing significantly. "Additionally, more than half of the homeowners we surveyed have no intention of selling or moving out of their current residences in the next 20 years or ever," said Marine Sargsyan, Houzz staff economist. "There is inflation in the market and elasticity, but not to the degree that we anticipated, and the customer shows us they are resilient," said Home Depot's McPhail.
Ahead of Tuesday's open, Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures were each down 0.1% vs. fair value. Remember that overnight action in Dow Jones futuresand elsewhere doesn't necessarily translate into actual trading in the next regularstock market session. Among Dow Jones leaders, Apple and Microsoft rose 0.6% and 0.5%, respectively, in today's stock market.
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Dow Jones tech leaders Apple and Microsoft were mixed after today's stock market open. Friday's The Big Picture column commented, "The stock market roared to cap its fourth straight up week Friday. Indexes punched their way higher again, with encouraging inflation data emboldening the bulls." Of course, Home Depot's actual earnings per share will depend on the strength of the housing market, the competitive landscape, and the company's own ability to execute, which will be most visible in its operating margin. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 . This news sentiment score is similar to the average news sentiment of Retail/Wholesale companies.
Home Depot announced that its board has initiated a stock repurchase program on Thursday, August 18th 2022, which permits the company to buyback $15,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued. The Home Depot Inc. is home improvement specialty retailer with retail stores across the globe. It offers a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, decor products and related services. Intraday Data provided by FACTSET and subject to terms of use.
Home Depot Unusual Options Activity For December 08
Home Depot investors shouldn't expect a repeat of last decade's blowout growth as conditions in the housing market have changed. Nonetheless, the company is the leader in home improvement retail and has considerable competitive advantages as well as a highly efficient and profitable business. If its earnings per share reach $17.41 in fiscal 2024 and its current price-to-earnings ratio holds, the stock price would be $370.48, or 73% higher than it is today. Home Depot has also been raising its dividend aggressively in recent years, so investors can expect annual increases in its quarterly payout as well. 24 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Home Depot in the last twelve months.
Get Started Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. IBD Videos Get market updates, educational videos, webinars, and stock analysis. Dow Jones soda giant Coca Cola is building a flat base that has a 67.30 buy point. Shares are rebounding from their 50-day line and nearing the early entry amid Monday's 1.3% rally. Has been one of the best-performing retailers in the market over the last decade.
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Home Depot "exemplifies best-in-class retail execution with leading Pro share and ... Microsoft jumped 1.75% Tuesday, as shares now test their long-term, 200-day line. Allegro Microsystems ended Tuesday in buy range past a cup-with-handle's 32.07 buy point following the day's 1.5% gain. Now is an important time to read IBD's The Big Picture column amid the ongoing stock market volatility.
By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. One share of HD stock can currently be purchased for approximately $333.43.
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Home Depot pays a meaningful dividend of 2.28%, higher than the bottom 25% of all stocks that pay dividends. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Harvard's Joint Center for Housing predicts that the annual gains in home improvement and maintenance spending will decline "sharply" by the middle of next year, but only to a 6.5% growth rate from an unusually high 16% rate. The NAHB, however, is forecasting that the remodeling sector will fare the best among the residential construction submarkets during this current housing contraction.
The TJX Companies Could Break Out To New Highs The TJX Companies is trading near an all-time-high level but probably won't set a new one unless something changes in the outlook. The Dogs of The S&P 500 And Why To Invest In Them The Dogs of the S&P 500 is a little-known strategy for income investors that focuses on this year's weakest sectors to find the highest yields and low values. 76 people have added Home Depot to their MarketBeat watchlist in the last 30 days.
High institutional ownership can be a signal of strong market trust in this company. Home Depot has received a 3.49% net impact score from Upright. Home Depot seems to create the most significant positive value in categories "Taxes", "Jobs", and "Meaning & joy". Home prices are still 11.4% higher in October than they were in October 2021, according to CoreLogic, but that annual comparison has been shrinking for several months.
Goldman Sachs said earnings beats can and should continue through at least 2022. It issued a bullish outlook on the market Tuesday, with chief U.S. equity strategist David Kostin saying he expects continued earnings growth to drive the S&P 500 to 5,100 at the end of 2022, a return of roughly 9% from here. Shares of retail giant Lowe's also rose 4.2% while Target shares got a 1.1% lift. Both companies are scheduled to report quarterly results Wednesday before the bell. Was the biggest gainer in the Dow by far on Tuesday, jumping 5.7% after results topped estimates and net sales jumped 9.8% last quarter. The home improvement retailer also said fiscal fourth-quarter sales were already tracking higher than last quarter, pointing to a possible strong year-end finish.
Don’t Chase Walmart Higher, Wait For Extra Low Prices Walmart popped on better-than-expected news but the strength may already be priced into the market and there are some technical hurdles ahead. Sign-up to receive the latest news and ratings for Home Depot and its competitors with MarketBeat's FREE daily newsletter. The P/E ratio of Home Depot is 20.10, which means that it is trading at a less expensive P/E ratio than the Retail/Wholesale sector average P/E ratio of about 42.74. In the past three months, Home Depot insiders have sold 24.54% more of their company's stock than they have bought. Specifically, they have bought $499,911.00 in company stock and sold $622,580.00 in company stock.
"The stickier drivers of inflation are likely to persist, but our base case is that they will not outweigh the improvement we expect in the transitory elements," he wrote in a note to clients. The region-wide MSCI ex-Japan benchmark slipped 1.34% heading into the close of trading, with the Shanghai Composite down 2%, while the Nikkei 225 in Tokyo closed lower for a fourth consecutive session at 27,424.47 points. Futures contracts tied to the Dow Jones Industrial Average suggest a 165 point pullback for the benchmark average, while those linked to the S&P 500 are priced for an 18point retreat. MRK stock shows a solid 94 out of a perfect 99 IBD Composite Rating,per theIBD Stock Checkup.Investors can use the IBD Composite Rating to easily gauge the quality of a stock's fundamental and technical metrics.
This comes as home sales, prices and construction are all weakening due to a massive jump in mortgage rates. Finding strong, market-beating stocks with a positive earnings outlook becomes easier with the Focus List, a top feature of the Zacks Premium portfolio service. Home Depot Inc. cracked Cowen & Co.'s list of best stock ideas for 2023 Tuesday, as analyst Max Rakhlenko praised the company's execution.
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