What Analysts Think of Home Depot Stock Ahead of Earnings | Global News Avenue

Home Depot (HD) Plans ahead of fourth-quarter earnings held on Tuesday, analysts expect sales to grow year-on-year, although comparable store sales are expected to decline for the ninth consecutive quarter.

Most analysts who followed Home Depot and tracked by Alpha are optimistic about the stock of the home improvement giant, with Eight “buy” ratings, as well as three “hold” and one “sell”. The retailer’s average price target is about $433, about 10% higher than the stock’s level Thursday afternoon.

Home Depot is expected to report adjustments Earnings per share (EPS) $3.02 in the last quarter of 2024, with sales of $39.06 billion, up from $34.79 billion a year ago. Home Depot The highest last quarteralthough CEO Ted Decker said “macroeconomic uncertainty remains.”

Comp Store sales are expected to drop again

However, analysts also predicted Home Depot’s Comparable store sales A year-on-year decrease of 1.66%. Retailers and Competitor Luo ((Low) Has said about sales “Large” project Like electrical appliances, they are affected by inflation.

JPMorgan analysts said in a recent note that they expect Home Depot to get the highest estimates for the fourth quarter, with comparable sales growth forecasted at 0.8%. Given the retailer’s “three years” since its last positive comparable sales result in the third quarter of 2022, analysts said they expect Home Depot to remain conservative in its 2025 forecast.

JPMorgan analysts lifted Price target Given its valuation relative to its retail peers, for Home Depot stock, starting from $450 to $475, and said it would add it to the “Analyst Focus List for Growth Investments.”

Home Depot stock has dropped by about 9% in recent trading in the last 12 months.