LOW - Reading The Q1 Tea Leaves At The Home Depot
2024-05-16 11:01:06 ET
Summary
- The Home Depot, Inc. reported their Q1 results on Wednesday, which triggered a decent rebound in the stock, which has been weak recently.
- However, the retailer is still challenged by a tepid housing backdrop, saw same store sales decline in the quarter, and is about to digest a large acquisition.
- We dig into a few more details of the earnings report, look at Home Depot's current valuation, and offer up an opinion on the stock in the paragraphs below.
Giant retailer The Home Depot, Inc. ( HD ) posted their Q1 results on Tuesday, May 14th. The stock managed to climb 2.4% in trading on Wednesday in what can be described as a relief rally, as the shares are still down more than 10% from recent highs. Time to buy the dip in the large retailer that has created so much shareholder value over the decades? Or are the shares too expensive even after the pullback? An analysis follows below....
Reading The Q1 Tea Leaves At The Home Depot