The world’s leading retail distributor of residential remodeling products, Home Depot will publish its annual results on February 21st.
 
In the third quarter, Home Depot presented slightly better results than expected and raised its annual profit target. The company generated a net income of $ 934 million , $0.60 per share, compared with $ 834 million, $0.51 per share, a year earlier. Thomson Reuters’consensus was exceeded by one cent. Revenues reached $ 17.3 billion, up 4.4%.

This year, Home Depot expects that earnings per share rose by 18% to $2.38 against $ 2.34 previously. The revenue is still expected to grow about 2.5%.
 
In daily data, since early october, Home Depot’s stock initiated a bullish trend with a rise of 48%. The general bullish trend of U.S stock markets and the good results are key elements to explain why this share is skyrocketing. The 20-days moving average is still trending upward, so it could bolstered share up again.
 
However, it could be attractive for investors to take a buy order above $ 46.40 in closing price to target $ 52.The stop loss will be positioned at $ 44.25.