Home Depot Set to Reveal Q3 Earnings; Stock Performance Remains Strong

Expectations for Earnings Report: The Home Depot Inc HD will announce its third-quarter earnings on Tuesday. Analysts on Wall Street predict earnings per share (EPS) of $3.64 and total revenues reaching $39.17 billion. The report is anticipated before the market opens.

Stock Performance Overview: Over the past year, Home Depot’s stock has surged by 42.56%, and it has risen 19% year-to-date.

Analyzing the Stock Trends: Currently, Home Depot’s stock is maintaining a bullish trend, trading above its key moving averages, which reflects sustained investor interest.

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At a price of $405.90, the stock is significantly above its eight-day simple moving average (SMA) of $396.03 and its 20-day SMA of $402.79, indicating a solid short-term performance. Further reinforcing its positive outlook, the stock also exceeds its 50-day SMA of $395.16 and is well above its 200-day SMA of $364.51, showing a stronger long-term momentum.

However, the MACD (moving average convergence/divergence) indicates a slight caution, with a reading of negative 0.45. The RSI (relative strength index) at 55.49 signals stable interest, suggesting the stock is in a balanced state between gaining momentum and consolidating its position.

Ratings and Analyst Insights: Presently, the consensus among analysts is a Buy rating for Home Depot stock, with an average price target set at $419.29. Recent ratings from firms such as RBC Capital, Stifel, and Telsey Advisory Group average a price target of $422.67, indicating a potential upside of 2.93%.

Current Trading Activity: As of the time of publication on Monday, Home Depot stock was trading at $409.89.

Looking Ahead:

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