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

By
A A A
Share |

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 The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: HD

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

83%

Most Active by Volume

110,219,031
  • $6.79 ▲ 14.31%
104,982,008
  • $11.83 ▲ 12.35%
95,065,355
  • $3.40 ▲ 0.59%
79,694,763
  • $36.59 ▲ 2.64%
49,037,292
  • $39.90 ▲ 5.81%
47,069,528
  • $15.34 ▼ 1.03%
43,387,835
  • $6.56 ▼ 1.94%
42,066,487
  • $98.38 ▼ 0.65%
As of 7/29/2014, 04:04 PM