The Home Depot, Inc. (NYSE:HD) reaps high profits in recent months


Dallas, Texas 08/21/2013 (Financialstrend) – There had been strong profits reaped by The Home Depot, Inc. (NYSE:HD) in the recent months primarily attributed to the strong recovery presenting by the housing markets of the United States. The quarterly profits and sales for the company had increased to be above the analyst estimates which had further prompted the board to increase the financial guidance for the full fiscal year performance. The net earnings of the company for the second quarter had been reported to be at $1.80 billion or at $1.24 per share, compared to the earnings reported at $1.53 billion or at $1.01 per share for the same quarter of previous year. The analysts on an average had been expecting that The Home Depot, Inc. (NYSE:HD) would report earnings at $1.21 per share of the stock.

The sales had increased by 9.5% over the previous year to touch $22.5 billion, which was observed to be higher than the analysts’ estimates at $21.8 billion. The same store sales for the company had been reported to have increased by 10.7 percent for the quarter.

The stock of The Home Depot, Inc. (NYSE:HD) had been presenting significant loss of 1.22% on Tuesday and had further closed the day at $74.29 per share. It was observed that the stock had been trading on 17.04 million shares on the day, while the stock’s average trading volume remains at 6.19 million shares per day. The stock had moved on Tuesday to present intraday prices in the range of $73.65 to $77.50 per share. The stock had presently reported one year bottom is at $55.98 and one year peak at $81.56 per share. There are currently 1.46 billion shares of the company that are being traded out in the markets with the institutional ownership at 73%.