Home Depot’s Profit Beats, but Revenue Falls Short; Outlook Raised (HD)

By Dividend.com Staff,

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Home improvement warehouse operator The Home Depot, Inc. ( HD ) on Tuesday said its first quarter profit rose 12% from last year, beating analyst estimates, although its revenue fell short of expectations.

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 billion.

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 Tuesday.

The Bottom Line
Shares of Home Depot ( HD ) 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. ( HD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: HD

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