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Home Depot earnings: Wall Street stays upbeat despite signs of weakening home improvement demand

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Home Depot Inc. investors will soon learn the real story about what’s happening in the home improvement sector, as some others in the business have said demand is weakening while Wall Street estimates suggest continued strength.

The retail giant is scheduled to report fiscal third-quarter results, which runs through October, before the Nov. 15 opening bell.

Wells Fargo analyst Zachary Fadem acknowledged that the fundamental setup ahead of earnings is “tricky.” Given “toxic” housing market sentiment, he said the stock is priced for downward estimates revisions, but he doesn’t believe that will happen. And rather than full-year consensus analyst estimates being too high, Baker said Home Depot’s guidance is likely too low, and will be raised when it reports results.

At that time, Home Depot wouldn’t comment on demand trends, given the proximity to its reporting of results, but said it would “share more” when it reveals those results.Here’s what Wall Street is expecting from Home Depot’s third-quarter results:

 

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