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MarketScreener Homepage  >  Equities  >  Nyse  >  The Home Depot, Inc.    HD

THE HOME DEPOT, INC.

(HD)
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Real-time Quote. Real-time Cboe BZX - 12/13 12:07:43 pm
212.11 USD   +0.03%
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Home Depot : Cuts Sales Forecast--2nd Update

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08/20/2019 | 03:15pm EST

By Kimberly Chin

Home Depot Inc. lowered its sales forecast and warned that falling lumber prices -- as well as the potential effects of tariffs on U.S. consumers -- could weigh on growth.

The home-improvement retailer said fiscal 2019 sales growth would increase by 2.3%, down from its previous guidance of 3.3%. Same-store sales were projected to grow by about 4%, a percentage point lower than its previous forecast. The company affirmed its earnings guidance, seeing per-share earnings growth of about 3.1%.

Lower lumber prices, crimping what Home Depot can charge customers, have resulted in about $340 million in lost revenue from a year ago, Chief Financial Officer Carol Tomé said on a call with analysts on Tuesday. Meanwhile, the volume of lumber sold has increased, she said.

The price of lumber has been in a slump this year, pulled downward by a flood of supply after prices peaked last year, as well as a decline in home building due to bad weather in key construction markets.

The company also said the potential role of tariffs factored into its revised guidance. Chief Executive Craig Menear said in a conference call that Home Depot has to weigh the uncertainty around the tariffs and the potential "total impact on the customer."

Ted Decker, executive vice president of merchandising, said on the analysts call that he and his team have been negotiating with merchants and suppliers to limit the tariff effects.

The number of customer transactions was flat from a year ago, while the amount of money customers spent per visit rose 1.7%, and big-ticket transactions, or the number of comparable transactions over $1,000, climbed 3.7% from a year earlier.

"The consumer is healthy today," Ms. Tomé said in an interview, citing the number of customers and transactions Home Depot sees in-stores and online.

She said consumer confidence is high, wages are up and homeowners are spending right now.

Same-store sales -- a common metric in retail based on revenue at stores open at least one year -- rose 3%. Analysts expected a 3.3% rise.

Overall sales for the Atlanta, Ga., company rose 1.2% to $30.84 billion from a year ago, slightly behind analysts' estimates of $31 billion, according to FactSet.

Home Depot said its second-quarter earnings fell to $3.48 billion, or $3.17 a share, but topped analysts' projections of $3.09 a share.

Shares of Home Depot rose 4.5% to $217.28 and has gained 26% in the year.

The company has made a number of investments to improve the in-store experience, particularly in its loyalty program for housing professionals, as well as enhancing its delivery, pick up and e-commerce capabilities and expanding its merchandise offerings to include such items as home décor and DIY projects. Expenses rose 1.3% in the quarter.

Write to Kimberly Chin at kimberly.chin@wsj.com

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Financials (USD)
Sales 2020 110 B
EBIT 2020 15 807 M
Net income 2020 11 046 M
Debt 2020 28 897 M
Yield 2020 2,57%
P/E ratio 2020 21,0x
P/E ratio 2021 20,0x
EV / Sales2020 2,36x
EV / Sales2021 2,27x
Capitalization 231 B
Chart THE HOME DEPOT, INC.
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Technical analysis trends THE HOME DEPOT, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 233,43  $
Last Close Price 212,04  $
Spread / Highest target 20,3%
Spread / Average Target 10,1%
Spread / Lowest Target -19,8%
EPS Revisions
Managers
NameTitle
Craig A. Menear Chairman, President & Chief Executive Officer
Richard McPhail Chief Financial Officer & Executive Vice President
Matthew A. Carey Chief Information Officer & Executive VP
Gregory D. Brenneman Lead Independent Director
Ari Bousbib Independent Director
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