The Home Depot Announces Second Quarter Fiscal 2024 Results; Updates Fiscal 2024 Guidance

Home Depot (HD) PT Lowered to $363 at RBC Capital

RBC Capital analyst Steven Shemesh lowered the price target on Home Depot (NYSE: HD) to $363.00 (from $377.00) while maintaining a Sector Perform rating.

The analyst comments "The comp miss and guidance revision were largely anticipated and ultimately make for a better setup... More

Home Depot (HD) PT Lowered to $400 at Evercore ISI

Evercore ISI analyst Greg Melich lowered the price target on Home Depot (NYSE: HD) to $400.00 (from $415.00) while maintaining a Outperform rating.

The analyst comments "Negative comp store traffic for 13 straight quarters hurts. The housing led (started in 2006) Global Financial Crisis period witnessed 16 straight quarters. While the magnitude of the drop since the COVID/stimulus... More

Telsey Reiterates Market Perform Rating on Home Depot (HD)

Telsey analyst Joseph Feldman reiterated a Market Perform rating and $360.00 price target on Home Depot (NYSE: HD).

The analyst comments "TAG View: Home Depot reported 2Q24 adjusted EPS of $4.67, beating our estimate of $4.64 and the FactSet (FS) consensus of $4.53, driven by sales of $43.2B (TAG $42.7B; FS $42.6B) that were boosted by $1.3B for the six weeks since acquiring SRS Distribution... More

Home Depot (HD) PT Lowered to $392 at Wolfe Research

Wolfe Research analyst Chris Bottiglieri lowered the price target on Home Depot (NYSE: HD) to $392.00 (from $401.00) while maintaining a Outperform rating.

The analyst comments "We are Outperform rated on Home Depot. Home Improvement is a more resilient category versus areas like... More

Evercore ISI Reiterates Outperform Rating on Home Depot (HD)

Evercore ISI analyst Greg Melich reiterated an Outperform rating and $415.00 price target on Home Depot (NYSE: HD).

The analyst comments "Slight miss on comps, beat on EPS. Most importantly for the stock, HD officially threw in the towel on their prior... More

Citi Defending Home Depot (HD): 'It’s Not as Bad as Stock Reacting'

Citi analyst Steven Zaccone reiterated a Buy rating and $395.00 price target on Home Depot (NYSE: HD)

The analyst comments "HD reported a slightly weaker than expected print for SSS in both 2Q and for 2H guidance implications, but we believe the EPS... More

Truist Cautious on Home Depot (HD): 'near-term set up difficult to assess'

Truist Securities analyst Scot Ciccarelli reiterated a Buy rating and $396.00 price target on Home Depot (NYSE: HD)

The analyst comments "Net/net 2Q comps were down (3.3%) and US comps were down (3.6%) vs. our recently downwardly revised forecast of (2.3%) and (2.5%), respectively. As... More

Jefferies on Home Depot (HD) Earnings: 'Comps Underwhelm'

Jefferies analyst Jonathan Matuszewski reiterated a Buy rating and $426.00 price target on Home Depot (NYSE: HD).

The analyst comments "A noisy quarter given the six-week sales contribution from recently acquired SRS, but nonetheless, the underlying trend is clear: higher interest rates & greater macroeconomic uncertainty... More

Stifel Negative on Home Depot (HD) Following Earnings, 'We expect the shares to trade lower this morning'

Stifel analyst W. Andrew Carter reiterated a Hold rating and $380.00 price target on Home Depot (NYSE: HD).

The analyst comments "QUICK WORD: NEGATIVE. 2Q24 EPS $4.60 including $0.07 amortization headwind outpaced our estimate ($4.35), but with weaker comparable sales -3.3% (-2%) including -3.6% domestic (-1.9%), with... More

Home Depot cuts full-year profit, same-store sales guidance as consumer demand pressured

(Updated - August 13, 2024 9:44 AM EDT)

Home Depot (NYSE: HD) reported better-than-expected second-quarter earnings and revenue on Tuesday but lowered its full-year outlook, citing weaker consumer demand for home improvement projects. The company's shares fell following the report, currently down around 0.8%.

The home improvement retailer posted adjusted earnings per share of $4.67, beating analysts' estimates of $4.54. Revenue rose 0.6% YoY to $43.18 billion, surpassing the consensus forecast of $42.6 billion. However, comparable sales declined 3.3%, with U.S. comparable sales down 3.6%.

Home Depot cut its full-year guidance, now expecting comparable sales to decline between 3% and 4%,... More