Home Depot Stock Slips on Reaffirmed 2023 Forecast

HD still sports a 6% year-over-year lead

Digital Content Manager
Jun 13, 2023 at 10:42 AM
facebook X logo linkedin

Home Depot Inc (NYSE:HD) stock is down 0.3% to trade at $303.62 at last check, after the home improvement retailer reaffirmed its forecast for 2023 ahead of its investor day, with an expected earnings decline between 7% and 13% compared to the year prior. The company said sales should stabilize when demand for discretionary goods strengthens.

Overhead pressure at the $305 level has kept a tight lid on the equity since late February, while the $280 region has contained several pullbacks this year. The shares are fresh off their fifth-straight weekly win, and sport a 6% year-over-year lead. 

It's worth noting that Home Depot stock boasts affordable premiums at the moment. This is per the equity's Schaeffer's Volatility Index (SVI) of 20%, which stands in the extremely low 2nd percentile of its 12-month range. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.