Home Depot Likely To Report Lower Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Home Depot (NYSE:HD) is expected to report lower Q3 earnings at $3.58 per share compared to $4.24 per share a year ago, with revenue estimated at $35.66 billion. The company's shares dropped 1.2% to $288.07 recently. Ahead of the earnings call, several analysts have revised their ratings and price targets for Home Depot. Stifel's John Baugh maintained a Hold rating, lowering the price target from $350 to $306. Truist Securities' Scot Ciccarelli kept a Buy rating, reducing the price target from $372 to $341. DA Davidson's Michael Baker maintained a Neutral rating, raising the price target from $290 to $320. Wells Fargo's Zachary Fadem kept an Overweight rating, increasing the price target from $345 to $360. JP Morgan's Christopher Horvers also maintained an Overweight rating, raising the price target from $321 to $335.
November 14, 2023 | 7:03 am
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Home Depot is anticipated to report lower Q3 earnings with a projected EPS of $3.58, down from $4.24 the previous year. The stock recently fell 1.2% and analysts have adjusted their price targets with varying ratings.
The anticipation of lower Q3 earnings for Home Depot is likely to put downward pressure on the stock in the short term. The recent 1.2% drop in share price reflects market sentiment reacting to these expectations. Analysts' revisions of price targets and ratings, although mixed, generally suggest caution, which could further influence investor sentiment negatively in the short term.
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IMPORTANCE 90
RELEVANCE 100