Today’s Research Reports on Stocks to Watch: Walmart and Home Depot
NEW YORK, NY / ACCESSWIRE / February 21, 2018 / Walmart saw its worst daily point drop in its history on Tuesday after reporting holiday quarter earnings that missed on earnings and showed that e-commerce sales were slower. Home Depot also closed in the red despite reporting record sales and earnings in its fourth quarter report.
RDI Initiates Coverage on:
Walmart Inc.
https://rdinvesting.com/news/?ticker=WMT
Micron Technology, Inc.
https://rdinvesting.com/news/?ticker=HD
Walmart’s shares closed down 10.18% on Tuesday on trading volume more than five times higher than usual. The retail giant posted its fourth quarter earnings and missed on earnings. While the world's largest retailer reported EPS of $1.33, analysts had been expecting EPS of $1.37. Same store sales and revenue were better than expected however. Revenue at $136.3 billion was better than the $134.9 billion that analysts had projected. Same store sales rose 2.6% compared to the expectation of 2.2%. CEO Doug McMillon commented, "We're making real progress putting our unique assets to work to serve customers in all the ways they want to shop. We're making decisions to position the business for success and investing to win with customers and shareholders." For fiscal 2017, Walmart reported revenue of $500.3 billion and e-commerce saw an increase of 44%.
Access RDI's Walmart Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WMT
The Home Depot's shares closed down a modest 0.14% yesterday on nearly 9 million shares traded. The home repair and improvement company may have closed in the red, but on Tuesday it posted record sales and earnings in the fourth quarter. It was the first time the company saw sales pass the $100 billion a year mark. For the fourth quarter, Home Depot posted that it earned $1.8 billion. In the same quarter a year ago that number was $1.7 billion. Full year earnings were $8.6 billion. Fiscal 2017 sales were $100.9 billion compared to $94.6 billion in 2016. Looking ahead, the company has forecast a 6.5% sales growth and says it plans to open three new stores. Company CEO Craig Menear commented, "While we are seeing significant growth in our online sales, these online shoppers see the relevance of our stores as approximately 46 percent of our online U.S. orders are picked up in our stores…a testament to the power of our interconnected retail strategy." Chief Financial Officer Carol Tome remarked, "The U.S. economy is strong and tax reform is net positive for the housing industry. We expect higher job growth, higher income growth and yes higher mortgage rates, but with that comes higher home price appreciation and rising housing demand, which should drive home improvement spending."
Access RDI’s The Home Depot, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=HD
Our Actionable Research on Walmart Inc. (NYSE: WMT) and The Home Depot, Inc. (NYSE: HD) be downloaded free of charge at Research Driven Investing.
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