Earnings Expectations For The Week Of May 18: Big-Box Retailers Step Into The Spotlight

After last week's disappointing earnings from Macy's and Nordstrom, but positive surprises from J.C. Penney and Kohl's, the big guns in retail are poised to share their most recent quarterly results this week. Consensus estimates from Wall Street analysts call for year-on-year earnings growth from big-box retailersHome Depot Inc HD and Target Corporation TGT, but for earnings declines from Best Buy Co Inc BBY, Staples, Inc. SPLS and Wal-Mart Stores, Inc. WMT when they report this week. Below is a quick look at what analysts are looking for from these results, as well as a peek at the week's other most anticipated reports.

Best Buy

The consensus forecast from 11 Estimize estimates calls for earnings per share (EPS) of $0.31, compared to $0.33 per share in the same period of last year. Also, revenues for the three months that ended in April are expected to have fallen around 6 percent to about $8.55 million. In the past three quarters, Best Buy exceeded Wall Street EPS estimates by double-digit percentages, but the analysts' expectations for the upcoming report have dropped by two cents in the past 60 days. Look for Best Buy to release its latest results Thursday before the regular trading session begins. See also: Is Urban Outfitters About To Turn The Corner On Its PR Nightmare?

Home Depot

In its report early Tuesday, this home improvement superstore operator is expected to say that its EPS rose about 18 percent to $1.17, based on 34 Estimize estimates. Wall Street analysts are a bit more pessimistic, placing EPS at just $1.15 for the first quarter, though they underestimated EPS handily in the previous period. The Estimize forecast has revenues about 6 percent higher to $20.85 billion for the most recent quarter. Looking ahead, Wall Street analysts thus far expect sequential and year-over-year growth on both the top and bottom lines in the current quarter.

Staples

This specialty retailer will report $0.18 per share earnings for its first quarter, says four Estimize estimates. That is a penny more than the Wall Street estimate and the same as in the year-ago period. Note that Wall Street analysts underestimated EPS in the past three quarters by a penny. Revenue for the three months that ended in April will be about 3 percent lower than a year ago to $5.49 billion, says Estimize. So far, Wall Street sees sequentially lower top line and bottom line results for the current quarter, which ends in July. Look for the Staples report before Wednesday's opening bell.

Target

When it shares its results first thing Wednesday, this Minneapolis-based retailer is expected to say its earnings for the most recent quarter came in at $1.03 a share, according to 14 Estimize estimates. That would be up from $0.70 per share in the same quarter of last year. The Estimize forecast for Macy's also calls for revenue to be marginally higher than a year ago to $17.34 billion for the fiscal first quarter. Wall Street analysts are calling for $17.09 billion in revenue, which would be essentially flat compared to a year ago, and for revenue to flat in the current quarter as well.

Wal-Mart

Some 25 estimates from Estimize suggest a profit of $1.07 per share and revenue that totals $116.81 billion for fiscal first quarter when it reports Tuesday morning. That would compare the $1.10 per share earnings and revenue of $114.96 billion reported in the same period of last year. Wal-Mart exceeded Wall Street consensus EPS estimates by less than 3 percent in the previous two periods, but the analysts' forecast has ticked down by a penny to $1.04 in the past 60 days. For the current quarter, they so far expect EPS that are lower year-on-year but with revenue that is marginally higher. See also: 13F Season: A Look At Warren Buffett's Q1 Moves

And Others

Other retailers that will show earnings growth this week, if forecasts are accurate, include the following:

• Advance Auto Parts
• American Eagle Outfitters
• Dick's Sporting Goods
• Dollar Tree
• Foot Locker
• L Brands
• Lowe's Companies
• TJX Companies
• Urban Outfitters
• Williams-Sonoma

Shrinking earnings are anticipated from Gap and Kirkland's, as well as net losses for Aeropostale, Bon-Ton Stores and Stage Stores. Analysts also are looking for earnings growth this week from Analog Devices, Brocade Communications Systems, Salesforce.com and Take-Two Interactive Software, as well as earnings declines from Autodesk, Campbell Soup, Deere, Hewlett-Packard, Marvell Technology, NetApp, Qihoo 360 Technology and Trina Solar. Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.