{"id":49006,"date":"2024-05-13T13:49:22","date_gmt":"2024-05-13T13:49:22","guid":{"rendered":"https:\/?p=49006"},"modified":"2024-05-13T13:49:22","modified_gmt":"2024-05-13T13:49:22","slug":"home-depot-q1-earnings-analyst-bullish-ahead-of-earnings-call","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/home-depot-q1-earnings-analyst-bullish-ahead-of-earnings-call\/","title":{"rendered":"Home Depot Q1 Earnings: Analyst Bullish Ahead of Earnings Call"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.stocktargetadvisor.com\/stock\/USA\/NYE\/HD\">Home Depot Inc (HD: NSD<\/a>) is set to report its Q1 earnings tomorrow, May 14, before the start of trading. Analysts are cautiously optimistic about the home improvement giant&#8217;s performance, but tempering expectations for a slight decline compared to last year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Analyst Ratings and Expectations:<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Below are the Wallstreet expectation for the Q1 earnings of Home Dept\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Earnings per share (EPS) are expected to be around $3.60, down 5.8% year-over-year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue is projected to come in at $36.6 billion, reflecting a 1.6% decrease from the first quarter of 2023.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Despite the anticipated decline, analyst sentiment on Home Depot stock remains positive. Here&#8217;s a glimpse into what some analysts are expecting:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Seth Basham, Wedbush:<\/b><span style=\"font-weight: 400;\"> Maintains a &#8220;Buy&#8221; rating on HD with a price target of $410, indicating a potential upside of 18.4%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Steven Zaccone, Citi:<\/b><span style=\"font-weight: 400;\"> Expects Home Depot&#8217;s results to be in line with or slightly above analyst estimates. However, he anticipates continued weakness in the pet retail and electronics categories.<\/span><\/li>\n<\/ul>\n<p><!-- STA Widget BEGIN --><\/p>\n<div>\n<div class=\"sta-analyst-rating-widget-display\">\n<p><a style=\"text-decoration: none; color: #4b6db5 !important;\" href=\"https:\/\/www.stocktargetadvisor.com\/stock\/USA\/NYE\/HD\" target=\"_blank\" rel=\"noopener\">HD Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n<p><script class=\"analyst-rating\" type=\"text\/javascript\" src=\"https:\/\/www.stocktargetadvisor.com\/assets\/js\/analyst_rating_widget.js\" data-symbol=\"HD\" data-theme=\"wt_bg_trans\" data-uid=\"1734263222664218e160f34664218e160f35\" data-width=\"700\" >\n\t\t<\/script><\/p>\n<\/div>\n<h2><strong>Stock Target Advisor\u2019s Evaluation:<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Stock Target Advisor&#8217;s gives &#8216;Hold&#8217; ratings to Home Depot with a Target Price of $386, factoring in a Projected Price Change over the next 12 months of 11.42% favorable increase. Compiled market data reveals an average analyst target price for Home Depot Inc. at $376.95 within the next year, advocated by a prevailing analyst rating of \u2018Strong Buy\u2019. However, giving equal weight to positive and negative signals, our unique perspective on Home Depot Inc. paints a more neutral picture.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Final Thoughts:<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The upcoming earnings report will be crucial for investors to gauge Home Depot&#8217;s ability to navigate the changing consumer spending landscape and its plans for future growth.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home Depot Inc (HD: NSD) is set to report its Q1 earnings tomorrow, May 14, before the start of trading. Analysts are cautiously optimistic about&#8230;<\/p>\n","protected":false},"author":17,"featured_media":27110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-49006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v21.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Home Depot Q1 Earnings: Analyst Bullish Ahead of Earnings Call<\/title>\n<meta name=\"description\" content=\"Home Depot earnings dip expected for Q1, but analysts remain optimistic. 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