In its upcoming report, Home Depot (HD) is predicted by Wall Street analysts to post quarterly earnings of $2.51 per share, reflecting a decline of 19.8% compared to the same period last year. Revenues are forecasted to be $38.25 billion, representing a year-over-year decrease of 3.7%.
Over the last 30 days, there has been a downward revision of 0.2% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Home Depot metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Number of stores - Retail' of 2,359 . Compared to the present estimate, the company reported 2,347 in the same quarter last year.
The combined assessment of analysts suggests that 'Sales per store' will likely reach $16.27 million. Compared to the present estimate, the company reported $16.92 million in the same quarter last year.
The average prediction of analysts places 'Number of customer transactions - Retail' at 398.32 million. Compared to the current estimate, the company reported 400.40 million in the same quarter of the previous year.
Analysts forecast 'Average ticket - Retail' to reach $89.86 . Compared to the present estimate, the company reported $89.11 in the same quarter last year.
View all Key Company Metrics for Home Depot here>>>
Shares of Home Depot have experienced a change of -0.3% in the past month compared to the -0.8% 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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The Home Depot, Inc. (HD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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