This is part of a larger project reviewing commentaries on each book of the Bible. Follow the links from that post for more information on the series, including explanations of what I mean by some of the terms and abbreviations in this post.
Duane Garrett's NAC is usually the first place I loook on Hosea. It's toward the more in-depth end of the mid-level commentaries, a little more in-depth than most volumes in the series. It's the most recent of the evangelical works on this book, and I find his judgments to be sane and reasoned yet without dogmatism when the issues are less clear. Garrett has also done Song of Songs for WBC and Proverbs, Ecclesiastes, Song of Songs (all in another volume), and Joel (in this volume) for NAC. His Rethinking Genesis is one of the more reasonable defenses of conservative views on the authorship of Genesis (and the Pentateuch in general). It's not surprising, then, that he is a conservative evangelical. His strengths include philology and a good sense of the literary features of the book, and he offers lots of detailed excurses on exploring some particular issues in more depth.
Douglas Stuart's WBC is the classic evangelical treatment. It's getting pretty dated now, but Stuart is revising it for publication next year (according to Thomas Nelson). Several reviewers I've read have said they Stuart is their favorite on Hosea. His work on Hosea and Jonah in this volume generally get placed as the best of the commentaries on the five books it treats (Hosea, Joel, Amos, Obadiah, Jonah). He is especially strong on theology but handles other matters judiciously also. One key strength is his tying the prophetic oracles back to covenant blessings and curses in the Torah, with his conception of prophets as enforcers of the covenant. One reviewer wishes Stuart spent more time explaining alternative views and thinks he's a little too willing to emend the MT. Stuart has also written the NAC on Exodus, the Preacher's Commentary (formerly Communicator's Commentary) on Ezekiel, and a commentary on Malachi in the same series as McComiskey's Hosea (see below). He is currently working on a second WBC volume to replace the current one on Micah-Malachi. Stuart is also a conservative evangelical. I don't like the format of this series, but I do think it's easier to read than McComiskey below, and Stuart is usually a clear writer. I look forward to the revised edition, which may well replace Garrett as my first choice on this book. [add link to Thomas Nelson site]