Nomura Securities Maintains a 'Neutral' on Home Depot (HD); Tweaking Numbers After Q2 Beat
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Price: $334.83 -0.92%
Rating Summary:
25 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
Rating Summary:
25 Buy, 20 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
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Nomura Securities maintains a 'Neutral' on Home Depot (NYSE: HD) price target of $55.00 (from $54.00).
Analyst, Aram Rubinson, said, "HD’s Q2 EPS of $1.01 beat consensus, with EBIT margins up 115bp, while comps of 2.1% were in line. The company is finding labor efficiency from streamlining processes. HD is investing in areas such as Buy Online, Pick-Up In Store. Online commerce is only 2% of total sales, but BOPIS already accounts for 35% of mobile purchases. Execution is there to prove it. HD has fared well in our BOPIS surveys. Greater consistency connotes better processes and improved systems. It is little surprise, then, that inventory seems in good condition even despite a challenging weather quarter. Management’s command over numbers is enabling it to better control the business. Our earnings model is basically unchanged, aside from incorporating Q2 outperformance (offset by a higher estimated share count). We continue to model 2012 EPS at $3.03 and 2013 at $3.50."
For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.
Shares of Home Depot closed at $54.71 yesterday.
Analyst, Aram Rubinson, said, "HD’s Q2 EPS of $1.01 beat consensus, with EBIT margins up 115bp, while comps of 2.1% were in line. The company is finding labor efficiency from streamlining processes. HD is investing in areas such as Buy Online, Pick-Up In Store. Online commerce is only 2% of total sales, but BOPIS already accounts for 35% of mobile purchases. Execution is there to prove it. HD has fared well in our BOPIS surveys. Greater consistency connotes better processes and improved systems. It is little surprise, then, that inventory seems in good condition even despite a challenging weather quarter. Management’s command over numbers is enabling it to better control the business. Our earnings model is basically unchanged, aside from incorporating Q2 outperformance (offset by a higher estimated share count). We continue to model 2012 EPS at $3.03 and 2013 at $3.50."
For an analyst ratings summary and ratings history on Home Depot click here. For more ratings news on Home Depot click here.
Shares of Home Depot closed at $54.71 yesterday.
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