By late afternoon, shares had added 3.5% to $80.61. Trading volume of 10.4 million was 44% higher than its three-month daily average.
The DIY home improvement chain recorded quarterly net income of 73 cents a share for the three months to January. Analysts surveyed by Thomson Reuters had forecast 71 cents a share.
Revenue of $17.7 billion was 3% lower than a year earlier and fell short of consensus by $212 million. Excluding the year-ago quarter's extra week, sales climbed 3.9%.Comparable-store sales increased 4.4%, while U.S. stores jumped 4.9%. The sales increase was on top of an already-high quarter last fiscal year which was buoyed by the recovery efforts of Superstorm Sandy. Over fiscal 2015, management anticipates sales growth of around 4.8%, assuming full-year revenue of $82.6 billion, and earnings-per-share growth of around 16.5% to $4.38. The board approved a 21% increase in its quarterly dividend to 47 cents a share, payable on March 27 to shareholders of record on March 13. Must Watch: Jim Cramer on Home Depot's Results STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates HOME DEPOT INC as a Buy with a ratings score of A. The team has this to say about their recommendation: "We rate HOME DEPOT INC (HD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
- You can view the full analysis from the report here: HD Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV