Home Depot Inc., the world’s largest home-improvement retailer, posted second-quarter profit that rose 9.3 percent and boosted its earnings forecast for the year as Americans continued a spree of spending on their houses.
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With Home Depot shares trading at near all-time highs, the company will need to provide a certain level of confidence in its guidance that suggests the business can continue to outperform competitors in the quarters and years ahead. Oppenheimer Holdings also issued estimates for The Home Depot’s Q4 2017 earnings at $1.29 EPS, FY2017 earnings at $6.22 EPS and FY2018 earnings at $7.00 EPS. 22 of the brokerages firms have a buy or better rating; the 0 sells versus 0 underperforms. Revenue for the same quarter is predicted to arrive at $26.48B. The company stock was upgraded to Buy from Neutral, wrote analysts at Nomura, in a research note issued to clients on Thursday June 23, 2016.
Deutsche Bank reiterated a Buy rating. The stock was bought at an average price of $132.53 per share, with a total value of $46,385.50.
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The consensus estimates from Thomson Reuters call for $1.97 in earnings per share (EPS) on $26.48 billion in revenue. Over the last 3 months and over the last 6 months, the shares of The Home Depot, Inc. The stock has a consensus analyst price target of $148.20 and a 52-week trading range of $92.17 to $139.00. The Hedge Fund company now holds 89,671 shares of HD which is valued at $12,290,307. Home Depot Inc makes up approx 0.96% of Cookson Peirce Co Inc’s portfolio. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
