Research Desk Line-up: Floor & Decor Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Home Depot, Inc. (NYSE: HD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HD. The Company announced on August 17, 2017, the addition of solar installations at 50 stores as it continues to expand its alternative energy portfolio, primarily by creating mini solar farms out of unused rooftops. The project is set to reduce electricity grid demand by about 30% to 35% annually at each Home Depot store, or the equivalent of powering 2,300 US homes for a year. The average store roof, at about 104,000 square feet, will accommodate 1,000 panels. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Home Improvement Stores industry. Pro-TD has currently selected Floor & Decor Holdings, Inc. (NYSE: FND) for due-diligence and potential coverage as the Company announced on July 27, 2017, its financial results for Q2 FY17 which ended on June 29, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Floor & Decor when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HD; also brushing on FND. Go directly to your stock of interest and access today's free coverage at:
http://protraderdaily.com/optin/?symbol=HD
http://protraderdaily.com/optin/?symbol=FND
The Announcement
The Home Depot announced that it is working with Current, powered by GE, on 20 solar installations at stores in New Jersey, and eight more stores in Connecticut, Maryland, and Washington, DC. Also, an additional 22 stores in California and New York will receive solar, of which six will utilize Tesla Powerpacks to store energy and dispatch additional power, as and when needed. The Home Depot's current alternative and renewable portfolio includes:
- Solar Power Purchase Agreements in Delaware and Massachusetts.
- Fuel cells at more than 170 stores and distribution centers.
- The Los Mirasoles Wind Farm, northeast of McAllen, Texas, announced in January, 2017.
- The Zopiloapan Wind Farm located in central Mexico, added in June 2017.
The solar addition is set to bring the Company's alternative energy footprint to about 130 megawatts as it follows the aim to utilize 135 megawatts of alternative and renewable energy by 2020. The Home Depot is presumably the world's largest home improvement specialty retailer with over 2,282 stores in all the 50 states, the District of Columbia, Puerto Rico, US Virgin Islands, Guam, 10 Canadian provinces, and Mexico. In FY16, The Home Depot reported sales of $94.6 billion and earnings of $8 billion. Construction on the selected stores is expected to continue throughout 2017.
The Compact Power Acquisition
The Home Depot recently acquired its long-term commercial partner, Compact Power Equipment, Inc., a leading national provider of equipment rental and maintenance services for $265 million in cash. Equipment Compact Power Equipment has partnered with The Home Depot since 2009, where the Company currently delivers compact equipment rentals at more than 1,000 stores across the US and Canada. It also provides equipment maintenance services nationwide to a range of customers, including The Home Depot.
The Home Depot offers tool and equipment rentals at more locations across the US, and Canada, delivering easy access to both Pro and Do-It-Yourself customers. The Company's wide array of rental offerings saves customers from the cost of hassle of maintenance and storage. Compact Power Equipment views this agreement as a step to expand its business while The Home Depot expects the acquisition to generate a collective focus on convenience and execution, where together, the Companies will be stronger to serve customers, while maintaining life-cycle management for commercial equipment.
On August 17, 2017, The Home Depot announced that its Board of Directors had declared a Q2 FY17 cash dividend of 89 cents per share. The dividend is payable on September 14, 2017, to shareholders of record on the close of the business on August 31, 2017.
Last Close Stock Review
On Friday, August 18, 2017, the stock closed the trading session at $147.49, slipping 1.46% from its previous closing price of $149.67. A total volume of 6.81 million shares have exchanged hands, which was higher than the 3-month average volume of 4.84 million shares. The Home Depot's stock price advanced 0.31% in the last one month, 3.14% in the past six months, and 9.41% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 10.00%. The stock is trading at a PE ratio of 21.17 and has a dividend yield of 2.41%. The stock currently has a market cap of $178.94 billion.
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SOURCE: Pro-Trader Daily