Stock Market News

Home Depot Tops Expectations, Goldman Expects Positive Market Reaction

2022.08.16 16:06

Home Depot Tops Expectations, Goldman Expects Positive Market Reaction
Home Depot (HD) Tops Expectations, Goldman Expects Positive Market Reaction

By Senad Karaahmetovic

Home Depot (NYSE:HD) reported results for the second quarter that beat the average analyst estimate, although its shares are down 0.6% in premarket Tuesday.

HD reported earnings per share of $5.05 on revenue of $43.79 billion, which is better than the consensus of EPS of $4.98 on sales of $43.57 billion. Comparable sales came in at +5.8%, again better than the average analyst estimate of +4.56%.

The company also reiterated its full-year forecast that calls for comparable sales rising +3%.

A Goldman Sachs analyst expects shares to react positively “given the top and bottom line beats and maintained 2022 guidance.”

“We think this quarter’s results and any insight into Q3 provided on the call will alleviate some investor concern around the health of the category into the second half of 2022,” she added in a client note.

A Credit Suisse analyst said the maintained guidance is “impressive in light of the continued slowing of existing home sales, with turnover typically spurring some repair and remodeling activity.”

An analyst from Telsey Advisory Group also reflected positively on the results.

“Home Depot should remain a winner in retail, given its best-in-class execution, digital prowess, and hybrid work-from-home arrangements causing more maintenance and repair activity,” the analyst wrote in a note.

HD shares remain over 20% down YTD.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 82,689.15 1.72%
ethereum
Ethereum (ETH) $ 1,930.62 0.05%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.29 2.42%
bnb
BNB (BNB) $ 627.96 0.43%
solana
Solana (SOL) $ 125.17 2.54%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.70235 2.33%
dogecoin
Dogecoin (DOGE) $ 0.168 3.38%
tron
TRON (TRX) $ 0.236962 7.36%
staked-ether
Lido Staked Ether (STETH) $ 1,926.76 0.14%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,512.11 1.67%
leo-token
LEO Token (LEO) $ 9.77 0.13%
chainlink
Chainlink (LINK) $ 13.92 0.93%
the-open-network
Toncoin (TON) $ 3.56 2.92%
usds
USDS (USDS) $ 1.00 0.02%
stellar
Stellar (XLM) $ 0.273231 0.04%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,306.94 0.12%
hedera-hashgraph
Hedera (HBAR) $ 0.188672 1.45%
avalanche-2
Avalanche (AVAX) $ 19.02 0.79%
pi-network
Pi Network (PI) $ 1.14 15.33%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 3.43%
sui
Sui (SUI) $ 2.29 3.76%
mantra-dao
MANTRA (OM) $ 6.98 0.14%
litecoin
Litecoin (LTC) $ 90.02 2.58%
polkadot
Polkadot (DOT) $ 4.47 1.92%
bitcoin-cash
Bitcoin Cash (BCH) $ 335.35 0.71%
bitget-token
Bitget Token (BGB) $ 4.61 3.39%
ethena-usde
Ethena USDe (USDE) $ 0.999983 0.03%
weth
WETH (WETH) $ 1,930.39 0.01%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999913 0.02%
hyperliquid
Hyperliquid (HYPE) $ 14.15 6.65%
whitebit
WhiteBIT Coin (WBT) $ 28.16 1.25%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,047.82 0.14%
monero
Monero (XMR) $ 208.53 1.82%
uniswap
Uniswap (UNI) $ 6.35 0.72%
susds
sUSDS (SUSDS) $ 1.05 0.05%
aptos
Aptos (APT) $ 5.41 1.11%
dai
Dai (DAI) $ 1.000000 0.01%
okb
OKB (OKB) $ 52.95 3.92%
near
NEAR Protocol (NEAR) $ 2.59 2.12%
pepe
Pepe (PEPE) $ 0.000007 2.21%
internet-computer
Internet Computer (ICP) $ 5.82 1.52%
mantle
Mantle (MNT) $ 0.811553 0.48%
gatechain-token
Gate (GT) $ 21.92 0.82%
ethereum-classic
Ethereum Classic (ETC) $ 17.69 1.01%
ondo-finance
Ondo (ONDO) $ 0.838011 2.54%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.87 2.20%
aave
Aave (AAVE) $ 169.23 3.35%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,694.16 1.71%