Home Depot lacks profit estimates and falling stocks



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Home Depot's shares are under pressure after the company missed Tuesday's Wall Street estimates of earnings, revenues and store sales.

The figures may have been affected by rising US housing prices, which weakened housing demand and construction activity.

This month, home sales dropped to their lowest level in more than three years.

Quarterly net sales were $ 26.49 billion, but analysts' expectations were $ 26.57 billion.

Sales in US outlets opened for at least 52 weeks, up 3.7% in the fourth quarter, which is below analysts' average forecasts of a 4.5% increase.

Net income for the fourth quarter of fiscal 2018 was $ 2.3 billion, or $ 2.09 per diluted share, compared to net income of $ 1.8 billion, or $ 1.52 per diluted share, for the same period of fiscal 2017.

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Week 14 added about $ 0.21 per diluted share for the quarter and year.

For the year, the company expects a profit of 10.03 dollars per share. That would be 23 cents less than the analysts' forecasts.

The Home Depot 's board of directors has declared a 32% increase in its quarterly dividend to $ 1.36 per share and announced stock repurchases of $ 15 billion.

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