Insights Into Home Depot (HD) Q2: Wall Street Projections for Key Metrics

Analysts on Wall Street project that Home Depot (HD) will announce quarterly earnings of $4.71 per share in its forthcoming report, representing an increase of 0.9% year over year. Revenues are projected to reach $45.51 billion, increasing 5.4% from the same quarter last year.

Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

With that in mind, let's delve into the average projections of some Home Depot metrics that are commonly tracked and projected by analysts on Wall Street.

Analysts predict that the 'Number of stores - Retail' will reach 2,353 . Compared to the present estimate, the company reported 2,340 in the same quarter last year.

The collective assessment of analysts points to an estimated 'Number of customer transactions - Retail' of 460.54 million. Compared to the present estimate, the company reported 451.00 million in the same quarter last year.

Analysts expect 'Average ticket - Retail' to come in at $89.92 . Compared to the present estimate, the company reported $88.90 in the same quarter last year.

Shares of Home Depot have experienced a change of +13.9% in the past month compared to the +3.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), HD is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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This article originally published on Zacks Investment Research (zacks.com).

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