Home Depot Rises on Strong Q4 Results
Retailer Home Depot (NYSE: HD) released its fiscal fourth quarter earnings results on Tuesday prior to the opening bell. The company reported net earnings of $774 million, or $0.50 per share, compared to $587 million or $0.36 per share, in the year ago period. This came in well ahead of Wall Street analysts' consensus EPS estimates of $0.42.
Net sales for the quarter were $16.01 billion versus $15.13 in last year's Q4. This also came in ahead of Street consensus estimates of $15.50 billion.
Looking ahead to fiscal 2012, Home Depot sees earnings per share growth of roughly 10% to $2.72. For the full 53 weeks in the fiscal year, the company sees EPS growth of nearly 13% to $2.79. These projections compare to current Street EPS estimates of $2.77. Including the 53rd week, full-year sales at Home Depot are expected to be up around 4% for fiscal 2012.
During Tuesday's trading session, HD shares have risen 1.35% to $47.33. Shares are up nearly 13% already in 2012 as traders and investors have been pushing the name higher on the back of better overall economic sentiment and some optimism about the direction of the housing market. At current levels, HD shares yield 2.45%.
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