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HP, Lowe's and Home Depot Report Next Week: Will the Rally Continue?

HD Chart HD data by YCharts

Home Depot (HD - Get Report)

Home Depot, together with its subsidiaries, operates as a home improvement retailer.

52-Week Range: $54.97 to $81.56

Price To Book: 6.9

Home Depot investors are just as excited about the upcoming earnings release as Lowe's shareholders. Investors are expecting a growing report before the market opens on Tuesday.

The analysts' consensus profit appraisal is presently $1.21 a share, a gain of 20 cents (16.5%) from $1.01 during the corresponding quarter last year. The lowest analyst estimate this report is $1.15 per share, and the highest is $1.26 per share. If The Home Depot delivers at least the expected results this report, this quarter will also beat last quarter.

Over half the analysts covering Home Depot rate it as a buy or strong buy; 15 of the 26 analysts covering the company give a buy recommendation. Analysts, overall, have called this one correctly. In the last 12 months, the shares have accelerated higher with one year return of 42%. The average analyst current target price for The Home Depot is relatively more optimistic than Lowe's at $86.29.

All of my home improvement space thoughts for Lowe's apply equally to Home Depot. The biggest difference between the two is Home Depot has a store close enough that I can perform an occasional walk through for anecdotal purposes.

Home Depot pays a slightly higher yield than Lowe's. Investors are receiving $1.56 in dividends for a yield of 2%. Shares closed Thursday near support on the weekly chart and investors looking to buy on a dip have found it. Unless they blow it during earnings, expect the shares to work their way above $80 again relatively soon.

HD Revenue Quarterly Chart HD Revenue Quarterly data by YCharts

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Robert Weinstein is an active trader focusing on the psychological importance of risk mitigation, emotion and financial behavior of market participants. Robert co-founded the investing blog StockSaints, where he writes a journal about his trading activity and experiences.

In addition to TheStreet, Robert also contributes to Real Money Pro, providing real-time trading ideas for stocks, options and futures.
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