Tuesday Sector Leaders: Real Estate, Home Furnishings & Improvement Stocks – NASDAQ.com
Home Depot’s comparable store sales jumped 5.8%, beating expectations for 4.4% growth. This led to earnings of $1.52 per share in Q2, beating expectations for $1.44. “In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies,” said CEO Frank Blake . Management reiterated its expectation for $4.52 per share in full year earnings, which was a bit higher than the $4.41 expected by analysts.
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Learn more. Second quarter revenue was up 5.7%t to $23.8 billion, beating analysts’ average estimate of $23.6 billion, helped by improved weather and rising home prices that are spurring consumers to spend on renovations, Bloomberg noted. Home Depot said profit this year will be $4.52 a share, including the benefit of share repurchases; the company had forecast $4.42. For more on Home Depot’s quarterly results, watch the video below: WATCH: More market update videos on TheStreet TV TheStreet Ratings team rates HOME DEPOT INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: “We rate HOME DEPOT INC (HD) a BUY.
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Home Depot profits soar as weather, housing market improve (+video) – CSMonitor.com
earned $2.05 billion, or $1.52 per share. A year earlier it earned $1.8 billion, or $1.24 per share. Analysts surveyed by Zacks Investment Research predicted earnings of $1.44 per share. HomeDepot’sstock gained $2.53, or 3 percent, to $86.12 before the market open.
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Also showing relative strength are home furnishings & improvement shares, up on the day by about 2.6% as a group, led by American Woodmark ( AMWD ), trading higher by about 15.9% and Home Depot ( HD ), trading higher by about 5.1% on Tuesday. Select a credit card product by: Card Type General Feedback Edit Favorites Enter up to 25 symbols separated by commas or spaces in the text box below. These symbols will be available during your session for use on applicable pages.
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