Earnings week ahead: Cisco, Walmart, Target, Home Depot and more
Zerbor
The pace of quarterly releases slows down over the next week, as earnings season begins to lose momentum. However, key reports from a number of closely watched companies are still due out.
Investors are eagerly anticipating important announcements from prominent retailers such as Walmart (NYSE:WMT), Home Depot (NYSE:HD), Ross Stores (ROST), TJX (TJX), and Target (NYSE:TGT), providing valuable consumer insights.
Furthermore, the week will also feature earnings results from Applied Materials (AMAT), Agilent Technologies (A), Cisco Systems (NASDAQ:CSCO), Deere (NYSE:DE), Canoo (GOEV), Bilibili (BILI) and Palo Alto Networks (PANW).
Below is a rundown of the major quarterly updates anticipated in the week of August 14 to August 18:
Monday, August 14
SNDL Inc. (NASDAQ:SNDL)
SNDL Inc. (SNDL) is slated to report its Q2 results before the market opens on Monday. Despite a 23% fall so far this year, the stock attracts a Buy rating from Wall Street analysts. Meanwhile, Seeking Alpha's Quant Rating system gives a cautious assessment, issuing a Hold rating on the stock. 
Also reporting: Suncor Energy (SU), BioXcel Therapeutics (BTAI), Docebo (DCBO), Embraer SA (ERJ), IDEAYA Biosciences (IDYA), JinkoSolar (JKS), Monday.com (MNDY), Reata Pharmaceuticals (RETA), Roivant Sciences (ROIV), Alcon (ALC), Hut 8 Mining (HUT) and more.
Tuesday, August 15
Home Depot (HD)
Home Depot (HD) is due to announce Q2 results before Tuesdayâs open. Following mixed results last quarter, the company predicted a decline in 2023 sales and comparable sales of between between 2% and 5%. Meanwhile, the homebuilder forecast a 7%-13% drop in EPS.
The stock is rated a Buy by Wall Street analysts, as opposed to a Hold by Seeking Alpha's Quant Ratings, with the system raising concerns about growth and valuation.
"The improving macroeconomic environment, including consumer confidence and inflation rates, could boost HD's business in the coming months and quarters," predicts SA contributor Bela Lakos.

Consensus EPS Estimates: $4.44
Consensus Revenue Estimates: $42.21B
Earnings Insight: Home Depot has consistently outperformed EPS estimates in the past 8 quarters and revenue forecasts in 6 of those reports.

Also reporting: Cardinal Health (CAH), HUYA (HUYA), IHS Holding Limited (IHS), On (ONON), Paysafe (PSFE), Riskified (RSKD), Sea Limited (SE), Tencent Music (TME), Agilent (A), CAVA Group (CAVA), Coherent (COHR), dLocal Limited (DLO), H&R Block (HRB), Jack Henry (JKHY), Mercury (MRCY), Stride (LRN) and more.
Wednesday, August 16
Cisco Systems (CSCO)
Tech stalwart Cisco Systems (CSCO) will post its Q4 results after Wednesdayâs close. Following stronger-than-expected results last time around, Cisco (CSCO) raised its full-year earnings outlook to $3.80 and $3.82 per share, up from a prior range of $3.73 to $3.78 per share. It also increased its revenue growth outlook to 10% and 10.5% Y/Y, up from a prior range of 9% to 10.5%.
SA Author Magdalena Pacholska points out, "The company's technical analysis indicates a potential for an upside but also suggests a possible need for a period of rest or correction before reaching new targets."

Consensus EPS Estimates: $1.06
Consensus Revenue Estimates: $15.03B
Earnings Insight: Cisco has beaten EPS estimates in 8 straight quarters, while exceeding revenue expectations in 6 of those reports.

Target (TGT)
Target (TGT) will offer its own update prior to the market open on Wednesday. After an upbeat Q1 report, the company saw a softer Q2 and anticipated comparable sales around a low-single digit decline and adjusted EPS in the range of $1.30 to $1.70.
Wall Street analysts rate the company as a Buy, while Seeking Alpha's Quant Rating system rates it as a Hold.
With a bullish stance on the stock, SA contributor Bill Zettler rates the stock a Buy due to its outstanding long-term record of dividend increases and share buybacks and the fact that its' price-to-sales ratio is very low.

Consensus EPS Estimates: $1.44
Consensus Revenue Estimates: $25.36B
Earnings Insight: Target has exceeded EPS estimates in 5 of the past 8 quarters and revenue in 6 of those reports.

Also reporting: Brinker (EAT), JD.com (NASDAQ:JD), Performance Food Group (PFGC), Ship Finance Intl (SFL), TJX (TJX), Avnet (AVT), Paycor (PYCR), Sociedad Quimica y Minera (SQM), StoneCo (STNE), Synopsys (SNPS), Wolfspeed (WOLF) and more.
Thursday, August 17
Walmart (WMT)
In probably the most closely followed report of the week, Walmart (WMT) is all set to release its Q2 results before the opening bell on Thursday.
Sell-side analysts are bullish on the stock, with a consensus Buy recommendation. However, the Seeking Alpha Quant Rating system is more cautious, assigning the stock a Hold rating.
"Walmart has set ambitious targets for sales growth and operating margins, but earnings multiples remain high, raising caution for investors," says SA author The Value Investor.

Consensus EPS Estimates: $1.70
Consensus Revenue Estimates: $159.01B
Earnings Insight: Walmart has beaten EPS estimates in 7 of the past 8 quarters, exceeding revenue expectations in 100% of those reports.

Also reporting: Bilibili (BILI), Dole plc (DOLE), Lumentum (LITE), MSG Sports (MSGS), NICE (NICE), OSI Systems (OSIS), SpartanNash (SPTN), Sphere Entertainment Co. (SPHR), Tapestry (TPR), Walmart (WMT), Applied Materials (AMAT), Bill.com (BILL), Farfetch (FTCH), Globant (GLOB), Keysight (KEYS), Ross Stores (ROST) and more.
Friday, August 18
Deere & Co. (DE)
The Illinois-based producer of farm equipment is scheduled to release its Q3 financial results on Friday before the market opens. Following upbeat Q2 results, the company raised its 2023 net income forecast to $9.25B to $9.50B from prior $8.75B to $9.25B.
The stock has consistently attracted a Buy rating from Wall Street and a Strong Buy recommendation from Seeking Alpha's Quant Rating system.

Consensus EPS Estimates: $8.20
Consensus Revenue Estimates: $14.06B
Earnings Insight: Deere has beaten EPS and revenue estimates in 6 of the past 8 quarters.

Also reporting: XPeng (NYSE:XPEV), Buckle (BKE), Estee Lauder (EL), Vipshop (VIPS), Palo Alto Networks (PANW) and more.

More on Cisco, Deere, etc.

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