Top Wall Street Forecasters Revamp Home Depot Expectations Ahead Of Q1 Earnings

Core Viewpoint - Home Depot is set to release its first-quarter earnings results, with expectations of a slight decline in earnings per share but an increase in revenue compared to the previous year [1]. Financial Performance - Analysts predict Home Depot will report earnings of $3.59 per share, down from $3.63 per share in the same quarter last year [1]. - The company is expected to report quarterly revenue of $39.14 billion, an increase from $36.42 billion a year earlier [1]. Analyst Ratings - Home Depot has exceeded revenue estimates in two consecutive quarters and six out of the last ten quarters [2]. - Recent analyst ratings include: - Wells Fargo maintains an Overweight rating, lowering the price target from $445 to $420 [8]. - Truist Securities maintains a Buy rating, raising the price target from $391 to $393 [8]. - JP Morgan maintains an Overweight rating, reducing the price target from $470 to $410 [8]. - Morgan Stanley maintains an Overweight rating, cutting the price target from $450 to $410 [8]. - Piper Sandler maintains an Overweight rating, lowering the price target from $435 to $418 [8].