Home Depot Q2 Earnings Preview: Will More Home Repairs, Housing Market Benefit Stock? Analyst Says 'Weather Headwinds' Playing Out
Portfolio Pulse from Chris Katje
Home Depot (NYSE:HD) is set to report its Q2 earnings, with analysts estimating revenue of $43.38 billion and EPS of $4.50. Despite potential weather-related headwinds and lowered same-store sales estimates, analysts maintain positive ratings, with JPMorgan raising the price target to $400. Foot traffic data suggests a potential rebound in the housing market, which could benefit Home Depot. Lowe's (NYSE:LOW) is also mentioned as a peer, with its Q2 results due on Aug. 20.
August 12, 2024 | 7:14 pm
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POSITIVE IMPACT
Home Depot is expected to report Q2 revenue of $43.38 billion and EPS of $4.50. Despite weather-related headwinds and lowered same-store sales estimates, analysts maintain positive ratings, with JPMorgan raising the price target to $400. Foot traffic data suggests a potential rebound in the housing market, which could benefit Home Depot.
Analysts have positive ratings on Home Depot despite some concerns, and foot traffic data suggests a potential rebound in the housing market, which could benefit the company. The raised price target by JPMorgan also indicates confidence in the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Lowe's is mentioned as a peer to Home Depot, with its Q2 results due on Aug. 20. Lowe's stock could react to any read-through from Home Depot's report.
Lowe's is mentioned as a peer, and its stock could react to Home Depot's earnings report. However, the direct impact on Lowe's is less certain until its own earnings are released.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 50