Home Depot: Buy, Sell, or Hold?
With a market capitalization of $288 billion, Home Depot (NYSE: HD) is easily one of the largest corporations in the world. And as a result, most investors are likely familiar with this omnipresent home improvement retail chain. The company saw demand surge as the pandemic caused people to spend more money on renovation projects.
But these trends have cooled down in recent quarters as macro pressures grow. The shares are down about 10% on the year. So should investors buy, sell, or hold Home Depot stock right now? Continue reading to find the answer.
During the most recent fiscal quarter (Q1 2023, ended April 30), Home Depot reported diluted earnings per share of $3.82, which beat Wall Street expectations. That's where the good news ends, however. Revenue of $37.3 billion was about $1 billion less than what analysts were expecting. And same-store sales decreased 4.5% from the year-ago period. Management also lowered guidance for fiscal 2023, with the expectation that revenue will be down this year.
Source Fool.com
