Assets Under Management AUM

Top Stock Reports for Home Depot, Philip Morris and BlackRock – August 17, 2022

Wednesday, August 17, 2022

Zacks Research Daily features top research results from our team of analysts. Today’s Research Daily features new research reports on 12 major stocks, including The Home Depot, Inc. (HD), Philip Morris International Inc. (PM) and BlackRock, Inc. (BLK). These research reports have been handpicked from the approximately 70 reports published today by our team of analysts.

You can see all research reports from today here >>>

The reception deposit stocks have gained +1.5% over the past year, lagging Lowes’ +8.1% gain, but outperforming the broader market’s -3.2% decline. The company on Tuesday reported a ninth straight quarter of fiscal second-quarter earnings and sales. Results benefited from strong demand for home improvement projects, robust housing market trends and ongoing investment.

The Home Depot also benefited from continued strength in the Pro and DIY categories as well as digital momentum. Its interconnected retail strategy and underlying technology infrastructure has helped to steadily increase web traffic over the past few quarters, which has boosted digital sales.

However, the company posted a low gross margin in the second fiscal quarter, due to higher investments in the supply chain. Higher inventory levels and interest charges also remain a concern.

(You can read the full Home Depot research report here >>>)

Philip Morris stocks have gained +6.2% over the past year, roughly in line with tobacco company Zacks’ +6.8% gain. The company benefited from its pricing power, which helped its Q2 2022 results. Both the high and low rose year over year and topped the Zacks consensus estimate.

Its strength in IQOS and the fuels sector drove performance despite headwinds. Proforma fuel product prices increased by 3.5% and by almost 5%, excluding Indonesia. The strength of the reduced-risk product category has benefited the company for some time.

However, Philip Morris has faced supply chain and regulatory hurdles in its business in Russia. The company has taken steps to reduce its operations in the region due to the war in Ukraine. In addition, management expects continued uncertainty regarding the pace of recovery from the pandemic-induced operating landscape.

(You can read the full research report on Philip Morris here >>>)

black rock shares are down -15.7% over the past year against the -10.3% drop in Zacks Financial’s investment management sector. Rising equity market volatility and falling asset prices in an environment of macroeconomic uncertainty generally provide an adverse environment for BlackRock and other asset managers.

However, BlackRock has an impressive history of earnings surprises. The company’s earnings have exceeded Zacks’ consensus estimate in three of the past four quarters. BlackRock continues to restructure the equity business, which, along with strategic acquisitions, will likely continue to support revenue growth and help expand its market share and footprint globally. A strong balance of assets under management (AUM) is likely to further support the top line.

(You can read the full research report on BlackRock here >>>)

Other noteworthy reports we feature today include PayPal Holdings, Inc. (PYPL), Deere & Company (DE), and Starbucks Corporation (SBUX).

Sheraz Mian

Director of Research

Note: Sheraz Mian leads the equity research department at Zacks and is a well-known expert on overall earnings. He is frequently quoted in the written and electronic press and publishes the weekly Earnings Trends and Revenue overview reports. If you would like to receive an email notification whenever Sheraz publishes a new article, please click here>>>