Brokerages expect The Home Depot, Inc. (NYSE:HD) to post sales of $40.05 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for The Home Depot’s earnings. The lowest sales estimate is $35.44 billion and the highest is $41.68 billion. The Home Depot posted sales of $38.05 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 17th.

On average, analysts expect that The Home Depot will report full year sales of $143.15 billion for the current fiscal year, with estimates ranging from $132.95 billion to $148.64 billion. For the next year, analysts anticipate that the company will report sales of $144.95 billion, with estimates ranging from $133.77 billion to $150.39 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow The Home Depot.

The Home Depot (NYSE:HD) last released its earnings results on Monday, May 17th. The home improvement retailer reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $0.78. The Home Depot had a return on equity of 963.88% and a net margin of 10.45%. The company had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $33.68 billion. During the same quarter last year, the company earned $2.08 earnings per share. The Home Depot’s quarterly revenue was up 32.7% compared to the same quarter last year.

Several research analysts have recently issued reports on the company. Credit Suisse Group lifted their price target on The Home Depot from $319.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 25th. Piper Sandler lifted their price target on The Home Depot from $290.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 19th. JPMorgan Chase & Co. lifted their price target on The Home Depot from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, April 19th. Morgan Stanley lifted their price objective on The Home Depot from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, May 24th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on The Home Depot from $288.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, May 4th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $331.65.

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In related news, EVP Matt Carey sold 113,138 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $316.00, for a total transaction of $35,751,608.00. Following the transaction, the executive vice president now directly owns 78,594 shares of the company’s stock, valued at approximately $24,835,704. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HD. KB Financial Partners LLC bought a new stake in shares of The Home Depot in the 1st quarter valued at approximately $29,000. Elmwood Wealth Management Inc. bought a new position in shares of The Home Depot in the first quarter worth $41,000. Grant Street Asset Management Inc. acquired a new stake in shares of The Home Depot in the fourth quarter valued at $42,000. Paradigm Strategies in Wealth Management LLC acquired a new stake in shares of The Home Depot in the first quarter valued at $52,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in shares of The Home Depot in the first quarter valued at $61,000. 69.75% of the stock is currently owned by institutional investors.

NYSE:HD opened at $323.48 on Thursday. The firm has a market cap of $343.94 billion, a P/E ratio of 23.59, a PEG ratio of 2.01 and a beta of 1.04. The company has a quick ratio of 0.41, a current ratio of 1.11 and a debt-to-equity ratio of 19.85. The Home Depot has a 52-week low of $246.22 and a 52-week high of $345.69. The stock’s fifty day moving average price is $317.78.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 17th. Investors of record on Thursday, June 3rd were given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, June 2nd. The Home Depot’s dividend payout ratio (DPR) is presently 54.86%.

The Home Depot declared that its board has approved a stock repurchase program on Thursday, May 20th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Earnings History and Estimates for The Home Depot (NYSE:HD)

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