HD stock rose in pre-market trading on February 22, 2022, after the company reported EPS and revenue beats.
The Home Depot Announces Fourth Quarter and Fiscal 2021 Results; Increases Quarterly Dividend by 15 Percent; Provides Fiscal 2022 Guidance
On February 22, 2022, Home Depot reported fourth quarter and fiscal 2021 results. Home Depot reported Q4 EPS of $3.21 versus the consensus estimate of $3.17. The company reported Q4 revenue of $35.72B versus the consensus estimate of $34.87B.
Sales for the fourth quarter of fiscal 2021 were $35.7 billion, an increase of $3.5 billion, or 10.7 percent from the fourth quarter of fiscal 2020. Comparable sales for the fourth quarter of fiscal 2021 increased 8.1 percent, and comparable sales in the U.S. increased 7.6 percent.
“Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales,” said Craig Menear, chairman and CEO. “Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates’ relentless focus on our customers. I would like to thank all of our associates, as well as our supplier partners, for their hard work and dedication to serving our customers, communities and each other.”
📺 This is a very solid report for Home Depot, Oppenheimer & Company’s Brian Nagel
📈 HD Stock Technical Analysis
Both the long and short-term trends are negative. HD is currently trading in the middle of its 52-week range. This is in line with the S&P500 Index, which is also trading in the middle of its range. HD is part of the Specialty Retail industry. There are 115 other stocks in this industry. HD outperforms 70% of them. However, this overall performance is mostly based on the strong move around 4 months ago.
There is a support zone ranging from 346.86 to 346.86. This zone is formed by a combination of multiple trend lines in multiple time frames. There is another support at 339.84 from a trend line in the daily time frame. There is also support at 317.05 from a horizontal line in the daily time frame. Finally, there is support at 270.89 from a trend line in the weekly time frame.
There is a resistance zone ranging from 351.21 to 358.76. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame. There is another resistance zone ranging from 366.55 to 373.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Finally, there is resistance at 412.11 from a horizontal line in the daily time frame.
Although the technical rating is bad, HD does present a nice setup opportunity. HD stock has a Setup Rating of 6 out of 10. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 346.86, a Stop Loss order could be placed below this zone. Click here to sign up for email alerts on when HD stock consolidates and has a Setup Rating of 8 or higher.