Where Will Home Depot Go Post-Earnings?
T = Trends for a Stock’s Movement
Home Depot is a home improvement retailer that operates Home Depot stores, which are full-service, warehouse-style stores. The company sells an assortment of building materials, home improvement, lawn and garden products, and provides a number of services. Home Depot stores serve three primary customer groups: do-it-yourself customers, do-it-for-me customers, and professional customers. Construction and improvement of new and existing homes and businesses is on the rise as consumers and business owners are investing where they operate. Look for the home and business improvement trend to continue and for Home Depot to be a leading provider of the products and services consumers and professionals demand.
Home Depot posted third-quarter earnings that beat analyst estimates and caused the company to raise its forecast. A boost in the housing market has made consumers confident enough to spend money on remodeling their homes, which led to increased spending at Home Depot, according to Bloomberg. Home Depot’s revenue grew 7.4 percent to $19.5 billion. Net income rose 43 percent to $1.35 billion, up from $947 million a year ago.