Home improvement warehouse operator The Home Depot, Inc. (
) on Tuesday said its first quarter profit rose 12% from last year,
beating analyst estimates, although its revenue fell short of
The Atlanta-based company reported first quarter net income of
$812 million, or 50 cents per share, compared with $725 million, or
43 cents per share, in the year-ago period.
Revenue edged slightly lower from last year to $16.82
On average, Wall Street analysts expected a smaller profit of 49
cents per share, albeit on higher revenue of $17.06 billion.
Looking ahead, the company raised its full-year profit outlook
to $2.24 per share, up from a prior forecast of $2.20. Analysts are
currently looking for $2.30 per share for the year.
Home Depot shares were mostly flat in premarket trading
The Bottom Line
Shares of Home Depot (
) have a 2.70% dividend yield, based on last night's closing stock
price of $36.98. The stock has technical support in the $35-$37
price area. If the shares can firm up, we see overhead resistance
around the $43-$45 price levels.
The Home Depot, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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