The Home Depot, Inc. (NYSE:HD – Get Rating) – Equities researchers at Oppenheimer boosted their FY2024 EPS estimates for shares of Home Depot in a note issued to investors on Wednesday, August 3rd. Oppenheimer analyst B. Nagel now expects that the home improvement retailer will post earnings of $17.34 per share for the year, up from their previous forecast of $17.23. The consensus estimate for Home Depot’s current full-year earnings is $16.43 per share.
Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.42. Home Depot had a negative return on equity of 21,952.60% and a net margin of 10.83%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $36.78 billion. During the same period last year, the firm earned $3.86 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis.
HD has been the subject of several other reports. Wedbush reduced their target price on Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Guggenheim decreased their price objective on shares of Home Depot from $400.00 to $350.00 and set a “na” rating for the company in a report on Wednesday, May 18th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Evercore ISI lowered their price objective on Home Depot to $360.00 in a report on Thursday, June 9th. Finally, Truist Financial reduced their target price on Home Depot from $405.00 to $375.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $368.45.
Home Depot Stock Up 0.8 %
Shares of NYSE HD opened at $309.69 on Monday. Home Depot has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. The business has a 50 day moving average price of $290.90 and a two-hundred day moving average price of $310.11. The firm has a market cap of $318.29 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99.
Institutional Investors Weigh In On Home Depot
Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Home Depot by 0.4% in the 1st quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock valued at $13,656,067,000 after purchasing an additional 180,532 shares during the period. Geode Capital Management LLC increased its position in shares of Home Depot by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock worth $7,002,662,000 after acquiring an additional 701,811 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after acquiring an additional 1,361,660 shares during the period. Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $4,325,629,000. Finally, Fisher Asset Management LLC boosted its stake in Home Depot by 3.9% in the 1st quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock worth $2,435,009,000 after purchasing an additional 303,885 shares during the period. 70.61% of the stock is currently owned by institutional investors.
Insider Transactions at Home Depot
In related news, EVP Ann Marie Campbell sold 11,293 shares of Home Depot stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares in the company, valued at $14,739,935.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Ann Marie Campbell sold 11,293 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the transaction, the executive vice president now owns 51,175 shares in the company, valued at $14,739,935.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Becker Caryn Seidman bought 1,500 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average price of $287.73 per share, with a total value of $431,595.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $431,595. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were given a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a yield of 2.45%. Home Depot’s dividend payout ratio (DPR) is presently 48.25%.
About 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, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
See Also
Want More Great Investing Ideas?
Receive News & Ratings for Home Depot Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Home Depot and related companies with MarketBeat.com’s FREE daily email newsletter.
