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The Home Depot, Inc. Message Board

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  • seadog72 seadog72 Jan 4, 1999 2:10 PM Flag

    Dow 100+ HD down 1/2

    I am looking for a new long term darling and
    wondering how all you stalwarts with HD feel about current
    pricing levels. Are we over priced here ? What are the
    earnings projections for 99,00 and beyond. With rates this
    low and housing so robust , can this be anything but
    a good investment? Any info would be
    appreciated....ready to buy.

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    • A strong Euro means higher rates for the US. When
      a country runs a trade deficit and a budget
      deficit(and we are despite what the administration says), it
      is dependent on foreigners accepting and holding its
      currency. The only reason the dollar is willingly held is
      because it is the reserve currency. If the Euro provides
      competition for the dollar, our inerest rates must rise to
      induce people to hold dollars(buy bonds).
      The Euro
      began trading today and the dollar is down, interest
      rates are up, and interest rate stocks, like HD, are
      getting hit.

    • gotten ahead of itself. We might have a rough
      ride for some time. If you are a long-term investor,
      you will make money with HD but if you are a trader,
      I'd stay away for now.

      The PE of HD, based on
      this year's earnings may be in the low 30s but the
      currently used PE is about 60 and when the fiscal year
      ends, they will use a PE in the upper
      40s.

      Earnings are growing about 30% a year. The current stock
      price reflects next year's earnings. If the stock
      continues to climb like it has over the past two years,
      I'll be a happy camper but I really expect the stock
      to move in a range for most of 1999.

      Of
      course, I'm only a school teacher and I use a bowling
      ball for my crystal ball. I am only guessing what will
      happen. Like everyone else, I cannot see the future.

 
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