How Analysts View Home Depot After Earnings

By Chris Lange Updated Jan 13, 4:31AM EST · Published Aug 17, 4:07PM EDT

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

How Analysts View Home Depot After Earnings — © Thinkstock

Home Depot Inc. (NYSE: HD) reported its fiscal second-quarter financial results before the markets opened on Tuesday. The long and short of the matter was that results were more or less in line with estimates, but investors were less than enthusiastic and the response in the stock was flat. However this did not stop a few analysts from weighing in on the company after the release.

24/7 Wall St. has included some highlights from the earnings report as well as what analysts are saying after earnings were reported.

The company said that it had $1.97 in earnings per share (EPS) on $26.5 billion in revenue. The consensus estimates from Thomson Reuters called for $1.97 in EPS on revenue of $26.48 billion. Home Depot posted EPS of $1.73 and $24.83 billion in revenue in the same period of last year.

[nativounit]

Comparable store sales for the most recent quarter were up 4.7%, and comp sales for U.S. stores were positive 5.4%.

Home Depot reaffirmed its fiscal 2016 sales guidance and expects sales will rise by roughly 6.3% and comp sales will be up about 4.9%. However, on the bottom line, the company raised its diluted EPS guidance for the year and now expects diluted EPS to grow by 15.6% from fiscal 2015 to $6.31. The consensus estimates call for $6.31 in EPS on $94.3 billion in revenue for the fiscal year.

After earnings were reported, a few analysts weighed in on the home improvement giant:

Nomura reiterated a Buy rating.
Wedbush has an Outperform rating with a $145 price target.
Argus has a Buy rating and raised its price target to $154.
Citigroup has a Buy rating and raised its price target to $155 from $152.
Deutsche Bank has a Buy rating and raised its price target to $145 from $143.
Royal Bank of Canada has an Outperform rating and raised its price target to $155 from $150.
JPMorgan reiterated a Buy rating with a $142 price target.

Shares of Home Depot were last trading at $136.25, with a consensus analyst price target of $149.24 and a 52-week trading range of $92.17 to $139.00.

Follow 24/7 Wall St. on Google

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.