Analysts expect that The Home Depot, Inc. (NYSE:HD) will post earnings per share of $4.29 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for The Home Depot‘s earnings, with estimates ranging from $3.49 to $4.82. The Home Depot posted earnings of $4.02 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The company is expected to announce its next earnings report on Tuesday, August 17th.
According to Zacks, analysts expect that The Home Depot will report full year earnings of $13.90 per share for the current fiscal year, with EPS estimates ranging from $12.19 to $15.34. For the next fiscal year, analysts anticipate that the company will post earnings of $14.71 per share, with EPS estimates ranging from $12.91 to $15.93. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover The Home Depot.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Monday, May 17th. The home improvement retailer reported $3.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.08 by $0.78. The Home Depot had a net margin of 10.45% and a return on equity of 963.88%. The business had revenue of $37.50 billion for the quarter, compared to analyst estimates of $33.68 billion. During the same period last year, the business earned $2.08 EPS. The company’s revenue was up 32.7% on a year-over-year basis.
Several brokerages recently commented on HD. Citigroup lifted their price target on shares of The Home Depot from $288.00 to $375.00 in a research note on Tuesday, May 4th. Raymond James lifted their target price on shares of The Home Depot from $305.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 13th. Morgan Stanley boosted their price objective on shares of The Home Depot from $340.00 to $345.00 and gave the stock an “overweight” rating in a report on Monday, May 24th. Jefferies Financial Group lifted their target price on shares of The Home Depot from $325.00 to $374.00 and gave the stock a “buy” rating in a research report on Friday, May 14th. Finally, Piper Sandler lifted their target price on shares of The Home Depot from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 19th. Five investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $325.21.
In other news, EVP Matt Carey sold 113,138 shares of the firm’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $316.00, for a total value of $35,751,608.00. Following the sale, the executive vice president now owns 78,594 shares in the company, valued at $24,835,704. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of HD. KB Financial Partners LLC acquired a new stake in The Home Depot during the first quarter worth $29,000. Westchester Capital Management Inc. bought a new position in shares of The Home Depot during the fourth quarter valued at $33,000. Bouvel Investment Partners LLC bought a new position in shares of The Home Depot during the fourth quarter valued at $33,000. Winch Advisory Services LLC lifted its holdings in shares of The Home Depot by 139.6% during the fourth quarter. Winch Advisory Services LLC now owns 127 shares of the home improvement retailer’s stock valued at $34,000 after acquiring an additional 74 shares during the period. Finally, Elmwood Wealth Management Inc. bought a new position in shares of The Home Depot in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 69.48% of the company’s stock.
Shares of NYSE:HD opened at $302.78 on Thursday. The stock’s fifty day moving average is $319.86. The Home Depot has a 12 month low of $240.25 and a 12 month high of $345.69. The company has a debt-to-equity ratio of 19.85, a current ratio of 1.11 and a quick ratio of 0.41. The firm has a market cap of $321.93 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.95 and a beta of 1.05.
The Home Depot declared that its board has approved a share buyback plan on Thursday, May 20th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, June 2nd. The Home Depot‘s dividend payout ratio is 54.86%.
About The Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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