Is it time to pop the champagne and celebrate new stock
market highs? The Dow Jones Industrials have risen 0.2% to 15,781.75 at 9:51
a.m.-a record high–lifted by the Home Depot (HD), which has gained 0.9%, and
General Electric (GE), which has risen 0.7%. Deutsche Bank’s Alan Ruskin
explains why the number isn’t as strong as it looks: Headline GDP 2.8%.
Looking at the stock, its one day range is $76.34 to $77.18
with a one year range of $60.21 to $81.56. HD shares are currently priced at
20.71x this year’s forecasted earnings, which makes them relatively inexpensive
compared to the industry’s 25.39x earnings multiple for the same period.
The company pays shareholders $1.56 per share annually in
dividends, yielding 2.00%. In a review of the consensus earnings estimate this
quarter, 26 sell-side analysts are looking at $0.89 per share, which would be
$0.15 better than the year-ago quarter and a $0.01 sequential increase. Read more.
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