Wall Street analysts predict that Home Depot Inc (NYSE:HD) will report $26.60 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Home Depot’s earnings, with the highest sales estimate coming in at $26.80 billion and the lowest estimate coming in at $26.42 billion. Home Depot reported sales of $23.88 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The business is expected to report its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Home Depot will report full-year sales of $108.27 billion for the current fiscal year, with estimates ranging from $107.75 billion to $108.51 billion. For the next year, analysts forecast that the company will report sales of $111.77 billion, with estimates ranging from $110.84 billion to $113.42 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Home Depot.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.24. The firm had revenue of $26.30 billion for the quarter, compared to analysts’ expectations of $26.23 billion. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share.
Several research firms have recently issued reports on HD. Bank of America lowered shares of Home Depot from a “buy” rating to a “neutral” rating and lowered their price target for the company from $219.00 to $195.00 in a research report on Friday, November 16th. Credit Suisse Group lowered their price target on shares of Home Depot from $204.00 to $194.00 and set a “neutral” rating on the stock in a research report on Thursday, November 15th. Deutsche Bank lowered their price target on shares of Home Depot from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Citigroup lowered their price target on shares of Home Depot from $227.00 to $226.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, UBS Group lowered their price target on shares of Home Depot from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $206.67.
In other news, Director Manuel Kadre bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average price of $177.48 per share, with a total value of $354,960.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $354,960. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 13,457 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $172.64, for a total transaction of $2,323,216.48. Following the completion of the transaction, the executive vice president now directly owns 56,198 shares in the company, valued at approximately $9,702,022.72. The disclosure for this sale can be found here. Insiders have purchased a total of 13,750 shares of company stock worth $2,401,470 in the last ninety days. 0.25% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Amussen Hunsaker Associates LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at $107,000. CSat Investment Advisory L.P. purchased a new stake in shares of Home Depot in the 2nd quarter valued at $112,000. Mainstay Capital Management LLC ADV boosted its stake in shares of Home Depot by 203.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 597 shares of the home improvement retailer’s stock valued at $116,000 after purchasing an additional 400 shares in the last quarter. RPg Family Wealth Advisory LLC boosted its stake in shares of Home Depot by 84.6% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 600 shares of the home improvement retailer’s stock valued at $117,000 after purchasing an additional 275 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Home Depot by 162.0% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 613 shares of the home improvement retailer’s stock valued at $127,000 after purchasing an additional 379 shares in the last quarter. 69.85% of the stock is currently owned by hedge funds and other institutional investors.
HD traded down $3.17 during midday trading on Wednesday, reaching $172.79. The company had a trading volume of 6,096,905 shares, compared to its average volume of 6,444,125. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 17.68. The stock has a market cap of $198.75 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.38 and a beta of 1.26. Home Depot has a 12-month low of $167.00 and a 12-month high of $215.43.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 29th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 28th. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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