Home Depot Earnings Growth Seen Accelerating Yet Again: Investing Action Plan
Here is your Investing Action Plan for Tuesday: what you need to know as an investor for the coming day. Home-improvement retail giant Home Depot (HD) and building materials supplier Eagle Materials (EXP) will report quarterly earnings.
Those reports, along with the NAHB’s Housing Market Index for May, will offer insight into the health of the U.S. housing market. Meanwhile, the Commerce Department will announce April retail sales figures.
Home Depot: Estimates: Analysts expect the Dow Jones retailer’s earnings to jump 23% to $2.06 per share. That would be the third straight quarter of accelerating earnings growth. Revenue is seen growing 6% to $25.23 billion.
Earnings Preview: Home Improvement Retailer Home Depot To Report Before Tuesday’s Open
Home Depot reports first-quarter earnings before market open on Tuesday, May 15. A strong U.S. economy, tight labor market and recent tax reform have been some of the tailwinds the company has highlighted in recent quarters.
Mortgage rates have continued to climb higher in recent months, but management didn’t seem particularly concerned about the impact they would have on the housing market.
On last quarter’s earnings call, Home Depot CFO Carol Tomé said: “We expect higher job growth, higher income growth and, yes, higher mortgage rates, but with that comes higher home price appreciation and rising housing demand, which should drive home improvement spending.”
Today's Trade of the Day | 5-15-18
NVDA Nvidia stock price traded through $248 and into an inside day.A failed breakout trade coined the "2B' by Victor Sperandeo would have called for a decline on the breakout. The stock gained bullish momentum but has petered out. So a traditional 2b did not unfold but after yesterday's inside day we are looking for a breakdown with an ultimate target of $236-238.
Stocks to Trade | Tuesday Edition 5-15-18
Bullish Momentum: OSTK, TGT, CVS, CRC, XLNX, WLL, ALXN
Bearish Momentum: tsla, aa
Double Normal Volume: NXPI, TWLO
Inside Days: aapl, mgm,fb, nvda, wfc, jpm, hal, ebay, gis, nflx, cat, met, nwl, cof
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