Home Depot Q4 EPS Beats by $0.18 as Bernstein Raises Target to $381
Home Depot shares have fallen 2.2% year-over-year but are up 11% YTD after Bernstein raised its price target to $381 from $362 while maintaining a Market Perform rating. In Q4 the retailer posted $38.20B in revenue and $2.72 EPS, beating expectations as same-store sales rose 0.4%.
1. Bernstein Increases Price Target
On February 18, Bernstein raised its Home Depot price target to $381 from $362 and maintained a Market Perform rating, citing cautious same-store sales growth expectations due to winter weather headwinds.
2. Q4 Results Exceed Estimates
In the fiscal fourth quarter Home Depot posted $38.20 billion in revenue and $2.72 EPS, surpassing consensus estimates of $38.12 billion and $2.54 EPS, while same-store sales rose 0.4%.
3. Peers Report Declines
Builders FirstSource saw core organic net sales fall 13%, and Floor & Decor reported a 4.8% drop in same-store sales, highlighting Home Depot's relative resilience in the home improvement sector.
4. Cramer Defends Shareholders
Jim Cramer questioned why investors are selling Home Depot shares given its strong results, challenging concerns over conservative forecasts and emphasizing the company's trust and performance.