Recent activity suggests a mixed outlook for Home Depot (NYSE:HD). Institutional investors recently experienced a US$14b decrease in market cap, despite long-term gains. Share trends show a 1.4% decrease, with a further decrease of 0.1% and a 0.5% decrease following. However, at other times, stock performance showed growth, trading 0.3%, 0.9% and 1.2% higher at separate intervals. A 2.7% increase was also noted since the last earnings report. On the earnings front, Home Depot's third quarter fiscal 2024 results led to an updated fiscal 2024 guidance. Q3 sales hit $40.2B despite a comparable sales decline, leading to a lowered 2024 outlook. This was followed by the announcement of second-quarter results and an update in fiscal 2024 guidance. A third quarter surge was noted despite tepid earnings, while key quarterly highlights from Q3 2024 report showed promise. HD's bullish elements include a 19% stock gain in 6 months and an outlook improvement amid accelerating sales. However, caution is advised due to the company appearing overvalued, and reports of consumers being wary. Other considerations include potential key metric revelations and whether an earnings beat is on the cards for the next report.
Home Depot HD News Analytics from Tue, 14 May 2024 07:00:00 GMT to Sat, 21 Dec 2024 12:00:29 GMT -
Rating 2
- Innovation 4
- Information 7
- Rumor -3
