1 Incredible Reason to Buy Home Depot Stock Before It Reports Earnings on Aug. 18

Home Depot reports Aug. 18, with Wall Street expecting modest revenue and earnings growth.

The best reason to buy the stock now is a roughly $700 billion Pro opportunity that's already gaining traction.

Following the recent dip, the stock offers an attractive 2.6% dividend yield.

Home Depot (NYSE: HD) will report second-quarter earnings on Aug. 18. Analysts expect revenue of $47.2 billion, up about 4% from the year-ago quarter. Adjusted earnings per share are projected at $4.73, slightly higher than last year's $4.68.

One compelling reason to buy the stock now is Home Depot's roughly $700 billion opportunity in the Pro market -- and it's already translating into results.

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Home Depot is building a hard-to-replicate business serving professional contractors, positioning it for meaningful growth when the housing market recovers.

The company acquired Mingledorff's, expanding Home Depot's reach in heating, ventilation, and air conditioning (HVAC) equipment. It can unlock substantial value from the deal through its SRS distribution network, which includes more than 1,300 branches.