Erste Group Bank Boosts Home Depot Earnings Forecast to $15.00

The Home Depot's (NYSE: HD) earnings per share forecast for fiscal year 2027 has been increased by Erste Group Bank. The bank now expects $15.00 in EPS, up from their previous estimate of $14.98. This is in line with the current consensus estimate of $15.00.

Erste Group Bank also provided an earnings per share forecast for fiscal year 2028, estimating $16.05. The analyst's increased forecast comes after Home Depot posted strong second-quarter sales growth and exceeded adjusted earnings expectations.

The company's quarterly revenue was up 5.7% compared to the same quarter last year, with adjusted earnings of $4.92 per share beating the consensus estimate of $4.73. The expansion of its Magic Apron AI shopping assistant to every U.S. store has also been seen as a positive development for the company.

Despite the optimistic outlook, there are some concerns surrounding Home Depot's leadership, with CEO Ted Decker on temporary medical leave and EVP Michael Rowe selling 710 shares valued at approximately $239,100.