Home improvement warehouse operator The Home Depot, Inc. ( HD ) on Tuesday posted better-than-expected second quarter earnings and raised its full-year outlook.
The Atlanta-based company reported second quarter net income of $1.36 billion, or 86 cents per share, compared with $1.19 billion, or 72 cents per share, in the year-ago period.
Revenue rose 4% from last year to $20.23 billion.
On average, Wall Street analysts expected a smaller profit of 83 cents per share, on lower revenue of $19.97 billion.
Looking ahead, the company raised its full-year earnings outlook to $2.34 per share, up from a prior estimate of $2.24. Analysts currently expect $2.30 per share for the year.
Home Depot shares rose 54 cents, or +1.7%, in premarket trading Tuesday.
The Bottom Line
Shares of Home Depot ( HD ) have a 3.18% dividend yield, based on last night's closing stock price of $31.46. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34 price level.
The Home Depot, Inc. ( HD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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