logo
  Join        Login             Stock Quote

Home Depot (HD) Raises Forecast After 3Q Earnings, Sales Top View

 November 13, 2012 06:54 AM
 


(By Balachander) Home Depot Inc. (NYSE: HD) raised its full-year forecast after the home improvement retailer posted third-quarter results that came in better than expected.

For the full year ending January 2013, the company now expects earnings per share (EPS) growth of around 23 percent to $3.03 versus prior forecast of a rise of 19 percent to $2.95. Wall Street analysts, on average, expect earnings of $2.97 per share.

Home Depot currently forecast sales growth of roughly 5.2 percent, up from about 4.6 percent growth projected earlier, while analysts expect a 4.8 percent increase for the year.

The world's largest home improvement retailer posted higher quarterly earnings as consumers spent more amid continued demand for its products.

[Related -The Home Depot, Inc. (NYSE:HD): More Room For Improvement]

Results of Home Depot, a Dow component, are considered by investors as a measure to gauge the ups/downs of the global economy due its significant international reach and the ongoing trends in the housing market.

On an adjusted basis, EPS jumped 23.3 percent to 74 cents, topping market expectations of 70 cents for the third quarter.

Net earnings increased 1.4 percent to $947 million for the three months ended October.

Sales grew 4.6 percent to $18.1 billion, coming in above consensus estimates of a 3.50 percent increase. Comparable store sales gained 4.2 percent, with U.S. sales up 4.3 percent.

The company's forecast for the full year exclude the $0.11 per share impact related to the closing of seven stores in China.

[Related -A Pause In The Action]

HD shares closed Monday's regular trading at $61.16. The stock has been trading in the 52-week range between $36.41 and $63.20.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageAbercrombie & Fitch Co. (ANF) Q2 Earnings Preview: The Unkind Quarter

Abercrombie & Fitch Co. (NYSE:ANF) will be holding its second quarter 2014 earnings conference call for all read on...

article imageWorkday Inc. (WDAY) Q2 Earnings Preview: Built In Surprise

Workday Inc. (NYSE:WDAY) plans to announce its fiscal 2015 second quarter results after market close on read on...

article imageArcelorMittal SA (ADR)(MT): Steel Stocks about to Get Red Hot

For the second consecutive day, a major broker upgraded a steel company by advancing their recommendation read on...

article imageExpress, Inc. (EXPR) Q2 Earnings Preview: Out of Style

Express, Inc. (NYSE:EXPR) will conduct a conference call to discuss its second quarter fiscal 2014 results read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.