Retail
What Analysts Are Saying About Home Depot After Earnings
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When Home Depot Inc. (NYSE: HD) released its fiscal first-quarter financial results on Tuesday, it beat earnings quite handily. However, stock gave back its gains on Wednesday as the broad markets posted their worst trading day in 2017. This did not stop analysts from chasing this stock higher and raising their price targets, though.
Here, 24/7 Wall St. has included some highlights from the earnings report, as well as what some analysts are saying after the fact.
The home improvement store posted $1.67 in earnings per share and $23.89 billion in revenues. Consensus estimates from Thomson Reuters had called for $1.61 in EPS and revenues of $23.72 billion. In the same quarter last year, the company reported EPS of $1.44 and revenues of $22.76 billion.
First-quarter same-store sales rose 5.5% worldwide and 6.0% in the United States. Those totals are slightly below the company’s fourth-quarter results: 5.8% worldwide and 6.3% in the United States.
The company reaffirmed its sales guidance calling for growth of 4.6% year over year. Same-store sales also continue to be forecast to rise 4.6%. Guidance for diluted earnings per share rose from a prior estimate of $7.13 to a new forecast of $7.15, up 11%, after accounting for share repurchases of approximately $5 billion.
Analysts had this to say following the report:
Shares of Home Depot were last seen at $156.34, with a consensus analyst price target of $170.73 and a 52-week trading range of $119.20 to $160.86.
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