Home Depot Inc. (NYSE: HD) is scheduled to report its fiscal third-quarter financial results before the markets open on Tuesday. The consensus estimates from Thomson Reuters are $1.58 in earnings per share (EPS) and $23.05 billion in revenue. The same period of last year reportedly had EPS of $1.36 and $21.82 billion in revenue.
Usually, this stock is the top pick in the home improvement retail category, but 2016 has not been the year for this industry. Even the most recent earnings report saw investors muted or down for Home Depot.
The company’s fiscal second quarter is generally supposed to be the strongest one for home improvement sales. However despite meeting results for the previous quarter, investors were largely unimpressed. Keep in mind that these results were also the highest quarterly sales and net earnings results in company history, but it’s seemingly hard to believe considering the reaction. Analysts took a closer look at this time and they were more or less mixed.
A few analysts weighed in on Home Depot ahead of the earnings report:
- Macquarie reiterated a Buy rating.
- Piper Jaffray has a Neutral rating with a $121 price target.
- Morgan Stanley has a Hold rating with a $145 price target.
- Argus reiterated a Hold rating with a $154 price target.
- Jefferies reiterated a Buy rating.
- RBC Capital Markets reiterated an Outperform rating with a $155 price target.
- Wedbush has an Outperform rating with a $145 price target.
So far in 2016, Home Depot has underperformed the broad markets, with the stock down 2%. Over the past 52 weeks, the stock is up nearly 7%.
Shares of Home Depot were down 0.5% at $129.18 on Monday, with a consensus analyst price target of $147.49 and a 52-week trading range of $109.62 to $139.00.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.