HD - Home Depot's Mixed Q4 Results And Cautious 2024 Outlook: Goldman Sachs Analyst Weighs In | Benzinga
Goldman Sachs analyst Kate McShane reiterated a Buy rating on Home Depot, Inc (NYSE:HD) with a price target of $393.
Home Depot reported fourth-quarter fiscal 2023 EPS of $2.82, above McShane’s estimate of $2.79 and Wall Street’s estimate of $2.77.
Net sales decreased 2.9% year-on-year to $34.8 billion versus McShane, and the Wall Street consensus of $34.8 billion and $34.6 billion as comparable sales decreased 3.5% Y/Y, below McShane’s estimate of -3.0% and consensus of -3.3%.
During the quarter, Home Depot experienced declines in both average tickets (-1.3% Y/Y) and transactions (-1.7% Y/Y), and McShane noted that comparable sales in the U.S. decreased by 4.0% Y/Y.
Home Depot’s operating margin decreased 135 bps Y/Y ...