Home Depot, Lowe’s Seen Surging on Spending Boom

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Home Depot, Lowe’s Seen Surging on Spending Boom
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A record wave of U. S. consumer spending on home improvement should give a big boost to the sales
and earnings of, among others, the two giants of the home improvement business: The Home Depot Inc. (HD) and Lowe’s Companies Inc. (LOW), according to the Wall Street Journal.
Home Depot is expected to post full year 2017 EPS of $7.24, up 12.2% from $6.45 in
2016, per data from FactSet Research Systems Inc. (FDS) cited by the Journal.
The Harvard University Joint Center for Housing Studies projects
that U. S. consumers will spend a record $316 billion on remodeling their homes this year, up from $296 billion in 2016 and far above the recent low of $222 billion in 2009, the Journal says.
It is expected to post slower full-year EPS growth of 8.7% in fiscal 2017
and 7.0% in fiscal 2018, per data from Zacks Investment Research reported by Nasdaq.
For Lowe’s, the anticipated EPS increase based on analysts’ consensus is 15.8%, rising from $3.99 in 2016 to $4.62 in 2017, also per the Journal.


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