NEW YORK (TheStreet) -- Shares of Home Depot (HD) are down 1.42% to $96.64 after failing to raise its forecasts for sales and profit this year amid signs the housing market is cooling, Bloomberg reports.
Revenue in the fiscal year through January will increase 4.8%, Atlanta-based Home Depot reiterated today in a statement, according to Bloomberg, a projection that translates to revenue of about $82.59 billion. The average of analysts' estimates compiled by Bloomberg was $82.64 billion.
Home Depot also reiterated that it expects profit in the current fiscal year to increase 21% to about $4.54 a share, which includes an estimated $34 million in costs related to the data breach it disclosed in September as well as the benefit of the company's $7 billion in year-to-date and planned share buybacks, Bloomberg reported.
Analysts estimated net earnings per share of $4.53, on average.
The performance may have disappointed investors, Key Private Bank analyst Rob Plaza said.
"Given that earnings were essentially in line and the guidance was flat, it makes sense for the stock to sell off a little bit," Plaza added.
Separately, TheStreet Ratings team rates HOME DEPOT INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: